Oil higher after logging biggest quarterly rise in nearly a decade

Demand-side optimism picked up after the Caixin-Markit China manufacturing purchasing managers index rose above 50 in March, indicating growth. February’s reading came in below 50, which showed economic contraction.

“We have a bullish setup to the week as U.S. sanctions on Iran and Venezuela — combined with OPEC+ apparent unwavering compliance, although some fissure is arguably appearing at the seems as Russia’s long-term commitment remains a big question — should keep oil prices in check,” said Stephen Innes, head of trading and market strategy with SPI Asset Management.
more detail at source: https://www.marketwatch.com/story/firmer-oil-prices-add-to-best-quarterly-performance-in-nearly-a-decade-2019-04-01

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