Oil’s Wild Ride Set to Continue After April’s Big Climb

WTI futures on track for nearly 19% monthly rise

by Myra P. Saefong
Market Watch

Oil futures are poised to end April with a monthly gain of nearly 19%, but the ride hasn’t been a smooth one and likely won’t be in the weeks to come as traders continue to navigate conflicting clues on the outlook for crude.

“There certainly seems to be a lot of factors pressing on oil prices, yet they keep finding new legs,” said Kevin Kerr, managing editor and executive publisher of Commodities Watch.

[…] West Texas Intermediate crude CLM6, +0.02% was trading at $45.53 a barrel on Thursday, its highest since early November, up from the front-month contract finish of $38.34 on March 31. Brent crude LCOM6, -0.06% was at $47.55, up roughly 19% from the front-month contract settlement at the end of last month.

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