Oil Futures Rise on Likely Technical RecoveryMarket Talk
Ilisa LocastroOil futures rise in the early Asian session on a likely technical rebound after falling for a third consecutive session overnight. Citi Research recommends investors and consumers refrain from buying and stay short risk-exposed commodities including oil until developments such as a 'Fed put' or a material 'Trump put' kick in. "Any rallies this week on minor trade deal headlines or delays to the imposition of the April 9 tariffs would provide opportunities to sell rallies," says Maximilian J. Layton, global head of Commodities Research, in a research report. Front-month WTI crude oil futures are up 1.5% at $61.60/bbl; front-month Brent crude oil futures are 1.2% higher at $64.99/bbl. (ronnie.harui@wsj.com)
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