| Finally, oil jolted higher in the April 8 week to near $40/ barrel, snapping a drawn-out downtrend. The WTI crude oil ETF United States Oil Fund ( USO ) added about 7.5% in the last five trading sessions (as of April 8, 2016) and Brent crude oil ETF United States Brent Oil ( BNO ) tacked on about 8.1% gains during the same timeframe.
The impressive gains were prompted by the impending OPEC-Russia meeting in Doha on April 17 to talk about an output freeze and a decline in U.S. stockpiles. As per the U.S. Energy Department's weekly inventory release, crude stockpiles reported a surprise reduction from their all-time high levels...............................................Full Article: Source
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