WTI climbs over $50 to best level since April 21

Author: Adam Button | Category: News

Crude continues to march higher

Today there were hints from OPEC about a longer cut (we already knew that) but also a deeper cut (that's new).

Crude has steadily climbed and is now at the best levels since April 21. On the day, front month WTI is up $1.06 to $50.40 with almost half the gain coming in the past hour.

The rise above $50 clears the 61.8% retracement of the late-April fall.

The OPEC meeting is May 25.