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ICBC Global Market: Oil and Other Commodities Market Update - April 16, 2018

Oil prices rose on Friday, making the largest weekly gain since July, supported by concerns about the possibility of Western military action in Syria and IEA report of dwindling global oil inventories, showing a drawdown of 120,000 barrels in March. Front-month U.S. West Texas Intermediate crude futures rose 0.34 percent at $67.39 a barrel. Front-month Brent crude futures climbed 0.58 percent to $72.62 a barrel. The spread between the two benchmarks stood at $5.23 a barrel.


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