It seems it was the peak time for the oil prices in asian trade. The prices crossed USD 50 . Brent North Sea crude for May delivery advanced 59 cents to USD 52.18.
As per the latest US Energy report released yesterday price received a mild boost which had impacts on the country’s crude stocks that increased by a smaller margin than the industry had forecast.
Algeria’s energy minister Chakib Khelil said on Wednesday "The global economy is starting to pick up, especially in the United States," .