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Friday, 12 April 2019 15:00

Oil has best run in three years

Oil has best run in three years

Signs of stabilization in China’s economy and a weaker dollar helped oil markets to their best run in more than three years on Friday, while global stocks edged up after JP Morgan’s results began the corporate earnings season in style, Caspian Energy News (www.caspianenergy.net) reports with reference to Reuters.

Chinese data showed exports rebounded last month, helping to offset weaker imports and reports of another reduction in Germany’s growth forecasts. Turkey’s lira was back on the ropes amid worries about its trajectory. The euro gained despite the German growth concerns.

Oil provided the big milestones. Brent was at $71.4 a barrel, having broken back through the $70 threshold this week, and U.S. WTI was heading for a sixth straight week of gains for the first time since early 2016.

More details: https://www.reuters.com/article/us-global-markets/oil-has-best-run-in-three-years-jpm-earnings-boost-stocks-idUSKCN1RO04Z

Person in charge of the newsline: Olga Nagiyeva 

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