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Oil Logs March's Highest Finish as Saudi Signals Near-Term Crude Export Reductions


Tuesday, 12 March 2019 02:49 WIB

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Oil futures on Monday marked their highest settlement so far in March, finding support from reports that Saudi Arabia planned to extend efforts to reduce crude exports.

April West Texas Intermediate crude rose 72 cents, or 1.3%, to settle at $56.79 a barrel on the New York Mercantile Exchange, after prices rose 0.5% last week, according to Dow Jones Market Data.

Global benchmark May Brent crude gained 84 cents, or 1.3%, to $66.58 a barrel on ICE Futures Europe, after the contract registered a weekly rise of 1% on Friday.

Both front-month crude benchmarks ended the session at their highest levels this month so far.

Source : Marketwatch


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