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Crude Oil gain ahead of 17 April meeting

The both crude Oil benchmarks are extending gains, with WTI rallying +0.95% to $ 38.11 while the Brent oil rises +0.75% to $ 40.14. Oil prices extend further into the green, territory, after having jumped over 5% on Wednesday, as oil markets cheer the surprisingly positive EIA crude reserves report, which revealed that the US crude stocks fell by 4.94 million barrels over the week to April 1, after seven straight weeks of expansion. While markets had predicted a rise of about 3 million barrels for last week.

Focus Doha Meeting.

Coming April 17 Doha meeting over the oil output freeze talks, also continues to underpin the sentiment around the black gold.

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