Oil Rises with Trade Optimism

April 1, 2019 Share Print 0

U.S. crude oil hit a 2019 high on Monday and Brent gained a dollar after tight supply and positive signs for the global economy drove both benchmarks’ largest first-quarter gains in nearly a decade.

U.S. West Texas Intermediate (WTI) futures were up 57 cents, or 0.95 percent, at $60.71 by 1325 GMT, after briefly reaching their highest in more than four months at $60.92. WTI gained 32 percent in the first quarter.

Brent crude for June delivery was up 86 cents, or 1.3 percent, at $68.44 after rising by more than a dollar in earlier trading and gained 27 percent in the January-March period.

Positive Chinese factory gauges and signs of progress in Sino-U.S. trade talks have boosted sentiment, helping to buoy regional stock markets.

via Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Bio
Twitter
Google+
Latest Posts

Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.