Oil prices increased on Monday

International benchmarks for oil prices continued to surge on Monday (11 April) due to a combination of weakening US dollars and the widely anticipated meeting between major oil producers next week. WSJ also reported that US oil production and commercial crude inventories are likely to extend last week decline, fueling optimism among traders. These bullish factor has the market focus on the firming trend and overshadowed reports of lofty production in Russia and Iraq as well as news that news that Kuwait plans to increase output as soon as the end of 2016.

WTI closed at   $40.36/b (+$0.64) May delivery 
Brent closer at $42.83/b (+$0.89) June delivery

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