Oil Market Update : Epic Research Singapore

Oil futures finished higher on Monday, recouping much of the losses seen at the end of last week, as traders weighed the likelihood of a slowdown in production and took their positions for the expiration of the April contracts for West Texas Intermediate crude.

WTI crude futures for April delivery CLJ6, +1.19%  climbed by 47 cents, or 1.2%, to settle at $39.91 a barrel on the New York Mercantile Exchange after trading as low as $38.61 and as high as $40.30. The contract expired at Monday’s settlement and contract expirations tend to add to market volatility. May crude CLK6, -0.22% which became the front-month contract, rose 38 cents, or 0.9%, to $41.52 a barrel.

May Brent crude LCOK6, -0.39% on London’s ICE Futures exchange, meanwhile, ended at $41.54 a barrel, up 34 cents, or 0.8%.

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