Oil prices rise; weak OPEC production in focus
OPEC remains unable to reach quotas it set earlier: source
FOX Business Flash top headlines for April 15
Here are your FOX Business Flash top headlines for April 15.
Oil prices moved higher in early Asian trade, with weak crude production from OPEC supporting prices, Oanda market analyst Ed Moya said in a note.
Although the IEA's oil-reserve release is weighing on sentiment, Moya says this already looks priced in.
Oil futures rose early Monday morning in Asia. (Photo by Mario Tama/Getty Images / Getty Images)
So "that leaves the risks heavily tilted to the upside as OPEC remains ... unable to hit the quotas" it had earlier set.
"That could leave Brent prices ranging between $100 and $120 for now, with WTI more like $95-115," he added.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Front-month Brent is 1.3% higher at $113.18 per barrel and WTI rose 0.9% to $107.94 per barrel.