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Brent Crude Oil Logs Highest Settlement Since Late 2014
Wednesday, 11 April 2018 02:29 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil prices rallied Tuesday, with Brent crude, the global benchmark, logging its highest settlement in more than three years.

"The reducing risk of a trade war and the rising risk of a real war in Syria accounted for the large move up," said Phil Flynn, senior market analyst at Price Futures Group. "The odds of a coordinated response to the chemical-weapon attack in Syria is making short selling more dangerous," he said.

June Brent added $2.39, or 3.5%, to end at $71.04 a barrel on ICE Futures Europe. That was the highest settlement since Dec. 1, 2014, with the day's high of $71.24 the highest intraday level since January of this year, according to FactSet data. May WTI crude rose $2.09, or 3.3%, to settle at $65.51 a barrel on the New York Mercantile Exchange, the highest finish since March 26.

Source : Marketwatch

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