Oil Has Biggest Quarter Gain In 10 Years – 28 March, 2019

Ongoing supply cuts let by OPEC as well as U.S. sanctions against Iran and Venezuela pushed oil prices on track for their biggest quarterly gain since 2009. U.S. West Texas Intermediate futures were up 26 cents or 0.4 percent to $59.56 per barrel. International Brent crude oil futures were up 30 cents and 0.4 percent to $68.12 per barrel. At this pace, Brent crude is on track to gain a total of 1.7 percent for the week and 27 percent the first quarter. Brent crude is also forecast to reach an average of $74 per barrel in the second quarter.