New York—Oil markets rebounded during a volatile April 18 on a combination of shorts booking profits and a softer dollar, analysts said. NYMEX May crude settled $1.05/b higher at $87.73/b, after bouncing between a low of $86.31/b seen in morning US trade and a high of $88.31/b in the afternoon. ICE June Brent settled up $1.44/b at $99.13/b. It had hit a high of $99.47/b at 1:06 p.m. EDT (1706 GMT) before shifting lower. The front-month Brent contract lost 2.22% of its value on April 18.
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