US West Texas Intermediate and international reference f & # 39; yuchers crude oil rose to a new high for the year this week. Markets are currently supported by OPEC's production cuts led and US sanctions against Iran and Venezuela, which helped tighten the global supply. However, the peak of the Friday before the top, probably fueled by the increase in demand for risky assets and tighter yields on US Treasury, which dampened concerns about US recession later this year. The catalyst for price action to & # 39 is the optimism created by the restoration of trade negotiations between the United States and China.
Strong first quarter performance
Crude Oil is set to post its biggest gain of the first quarter in 10 years. Furthermore, WTI f & # 39; yuchersy are able to rise at the fourth week in a row and are set for the first quarter of the gain 31 percent. F & # 39; yuchersy Brent crude oil are set to post a 27 percent increase in the first quarter.
CNBC said: "For two f & # 39; yuchersnyh contracts in the first quarter of 2019 with a & # 39 is the best performing quarter in the second quarter of 2009, when both grew by about 40 percent."
Trump Makes feeble attempt to stop the rally
Strong earnings this quarter may have prompted President Trump call for OPEC to increase oil prices down on Thursday.
"It is important that OPEC will increase the flow of oil. Global markets & # 39 are brittle, the price of oil is too high. Thank you! »Trump wrote in a post on Twitter.