Oil Market Update : Epic Research Singapore

Oil futures rebounded sharply Monday, with the U.S. benchmark closing at its highest level in seven weeks on signs of strengthening Asian demand and expectations a preliminary agreement to curb Iran’s nuclear program won’t see the market immediately swamped with more crude.

On the New York Mercantile Exchange, West Texas Intermediate crude for delivery in May CLK5, -0.84% jumped $3, or 6.1%, to close at $52.14 a barrel. That marked the highest close for a most-active futures contract since Feb. 17.

May Brent crude LCOK5, -1.02%  on London’s ICE Futures exchange rose $3.17, or 5.8%, to $58.12 a barrel. Both benchmarks saw their biggest one-day percentage gains since Feb. 3.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg