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QP - WTI rallies to new 2018 high on drop in US stocks, OPEC cuts - March 18, 2019
The WTI front-month contract rose $2.45 last week to settle at $58.52/bbl on Friday. An unexpected drop in US inventories and Saudi rhetoric on extended production cuts until year's end pushed prices higher.On Monday, March 11, WTI rose 72 cents to settle at $56.79/bbl. Saudi Arabia signaled that Vienna Pact production cuts would likely continue through the end of the year. The group had planned to meet in April, but that meeting has been......
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