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The oil price is set to continue



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US West Texas Intermediate and International Benchmark Brent Crude Futures Increased to a New High for the Year This week, the markets are backed by OPEC-led production cuts and US sanctions against Iran and Venezuela, which have helped to tighten global supply, and Friday's spike to the upside is likely to be driven by increased demand for risky assets and firmer US government-backed government bonds. over a US recession later in the year. The catalyst behind the price action is the optimism that arises from the resumption of trade negotiations between the US and China.

Strong First Quarter Effectiveness

Crude oil is set to post its biggest first-quarter profit in 1

0 years. WTI futures are able to rise for a fourth straight week and are set for a first quarter win of 31 per cent. lease futures are set to add a profit of 27 percent for the first quarter.

CNBC says, "For both futures contracts, the first quarter of 2019 is the best result quarter since the second quarter of 2009 when both received 40 percent."

Trump makes a slight attempt to stop the rally

The strong win in the quarter may have urged President Trump to urge OPEC to increase production at lower prices on Thursday.

"Very important that OPEC increases the oil flow. World markets are fragile, the price of oil gets too high. Thanks!" Trump wrote in a post on Twitter.

Trump …


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