The petroleum complex settled lower April 13 but remained higher overall from mid-March on tightening supply and steady demand. NYMEX front-month crude settled $1.10 lower at $82.16/b, while ICE front-month Brent settled $1.24 lower at $86.09/b. Crude futures, however, remained at the high end of a recently formed range following an April 2 decision by OPEC and its allies to cut output by 1.6 million b/d. After rallying $4.75 to $80.45/b on April 3, NYMEX front-month crude found a new bottom at around $79.60/b before jumping over $3 in April 11 and April 12 trading.
展开▼
