Oil prices tumbled on Friday

International benchmark for oil prices dived lower on Friday (15 April) as the market await the result of the widely anticipated meeting between major oil producers on the 17 April 2016, marketing the third straight losing session. Analyst were increasing pessimistic about any deal could be achieved without Iran’s participation citing that even producers agree to any consensus deal, it might not enough to alleviate global glut of crude that has pressured prices for the past two years.

WTI closed at $ $40.36/b (-$1.14) May delivery

Brent closed at $43.10/b (-$0.74) June delivery