Oil prices retreated on Thursday

International benchmarks for oil prices moved lower on Thursday (21 April) as the bullish sentiment was offset by a series of macroeconomic data. Indeed, the European Central bank commented its intention to remain the interest rate at the current level or lower for an extended period and has weighted down the euro against the USD. Besides, strongest US job data in 43 years raised the possibility that US official might seek to lift key interest rate sooner than expected. OPEC official said it might pursue freeze talk in this coming June meeting, yet analysts are very skeptical about the outcome after disappointed result last Sunday talk. Market generally seeing better prospect for crude oil prices to firm up in the second half of the year with expectation that output at non-OPEC member would continue to drop.

WTI closed at $43.18/b (-$1.00) May delivery

Brent closed at $44.53/b (-$1.27) June delivery