Oil Prices Head For Biggest Quarterly Gain Since 2009

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1. Oil Prices Head For Biggest Quarterly Gain Since 2009

Oil prices rose on Friday, pushed up by ongoing supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela, putting the crude markets on pace to post their biggest first quarter gain since 2009. U.S. West Texas Intermediate (USOIL) futures were at $59.66 per barrel at 8:00 GMT, up 36 cents, or 0.6 percent, from their last settlement. Meanwhile, Brent crude oil futures (CL_BRENT) were up 25 cents, or 0.4 percent, at $67.35 per barrel.*

2. Dollar Poised For More Gains As Trade Talks Come Into Focus

The dollar was poised on Friday for its strongest gain in three weeks as investors responded positively to a bounce in U.S. Treasury yields and despite overnight data that showed the U.S. economy slowed more than initially thought in the fourth quarter of last year.U.S. gross domestic product increased at a 2.2 percent annualized rate, the Commerce Department said on Thursday, down from the initial estimate of 2.6 percent. On the China front, U.S. Treasury Secretary Steven Mnuchin said on Friday he had a “productive working dinner” the previous night in Beijing, kicking off a day of talks aimed at resolving the bitter trade dispute between the world’s two largest economies.**

3. Debenhams Dips 25%

Debenhams closed -25.36% on Thursday at £2.090 after noting a major rally after the retail giant turned down an offer by Sports Direct’s Mike Ashley. On Thursday, Mike Ashley reportedly lashed out at advisers to department store chain Debenhams after the tycoon’s takeover approach was snubbed, and as he stands to be wiped out in a restructure. The news send DEB shares tumbling. Today, DEB shares were last seen at £2.140, up 2.4% from yesterday’s close as of 8:15 GMT.***

You can find and trade CFDs on all of the above mentioned assets on BDSwiss Forex/CFD platforms.

*Source: Investing Mar 29, 2019 2:48 AM ET
**Source: Reuters Mar 29, 2019 3:53 AM ET
***Source: CNBC Mar 29, 2019 03:07 AM ET

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