Oil prices jumped nearly 6 percent

Oil futures rose significantly today amid hopes that the major oil-producing countries reached an agreement restriction of production. Support prices are also having a strong economic performance in the USA and Germany, which may be the first sign of increasing demand for fuel in the near future.

Attention gradually switches to the upcoming meeting of exporters in Doha on 17 April. In general, investors are positive, despite a wave of rumors and comments, and the likelihood of a positive outcome of the meeting is maintained.

Meanwhile, yesterday the head of the Fed's Yellen has reduced fears of a return of the US economy into recession. Earlier this year, concerns about the global economic slowdown led to a drop of oil to 10-year low. Today's statements by the president of the New York Fed Dudley also supported oil prices. He said that he still supports the cautious approach to raising interest rates. Meanwhile, maintaining the current interest rates can lead to the preservation of the current value of the dollar, or even to weaken the currency, which usually contributes to higher prices for commodities

Meanwhile, the optimism of market participants added to yesterday's data from Baker Hughes, which showed that the number of drilling rigs for oil and gas around the world fell in March 2016 to 210 units, or 11.9%, on a monthly basis up to 1 thousand . 551 pieces. In annual terms, the number of such plants has fallen by 1 thousand. 6 units. In particular, according to the company, the rate in the US fell by 54 units on a monthly basis, and amounted to 478 units. In Canada, the rate for the month decreased by 123 units to 88 rigs. The number of installations in Europe decreased by 11 units to 96 units. In the Middle East figure dropped to 7 units to 397 units.

However, concern over the excess reserves of the world is still, after Iraq said yesterday that in April, exports from the southern ports of the country reached almost 3.5 million barrels per day in March compared to the average volume of 3.29 million barrels per day.

WTI for delivery in May rose to $39.61 a barrel. Brent for May rose to $41.70 a barrel.