According to Reuters news, confidence was also boosted by positive signs of Chinese factory performance and signs of progress in China-US trade talks, which raised the regional equity markets. >
By the time 0606 GMT, Brent crude for June delivery was up 64 cents, equivalent to one percent to $ 68.22 a barrel, after increasing by 27 cents in the first quarter. .
US West Texas Intermediate crude futures rose 43 cents, or 0.7 percent, to $ 60.57 a barrel, after recording a 32-cent increase from January to March. .
What helped the price support this year was the US sanctions on Iran and Venezuela, the supply cuts of the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, which was deeper than fear. Related to global growth and the US-China trade war.
But the futures gains were limited by the potential weakness in the global economy as well as the ability of American oil producers to increase production when prices rise, according to Fin Zebel, an economist at a bank. Australia's National Park, Sydney.
"It is difficult to foresee a really big rise wave from here," he said.
Namazon Services..programmed technical analysis platform ... for UAE, Saudi, and global markets
With your support we continue ... to provide valuable content and smart solutions for investors, to discover opportunities in the local and global markets.
To more:
expectations of oil stability between 65 and 75 dollars until the end of 2019
