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International benchmarks for oil prices edged higher on Thursday (28 April) as the US dollar weakened after the Fed kept key interest rate unchanged in Wednesday meeting. However, many analysts are just cannot explain the gains this week pointing to increased production rate in Iran and Saudi would offset all the cutbacks in US. Therefore, the fear is that the current firming trend might not be sustainable. According to WSJ, oversupply is now lingering at about 1 million barrels per day.

WTI closed at $46.03/b (+$0.7) June delivery

Brent closed at $48.14/b (+0.96) June delivery