Oil Rises to Fresh 2-Months Highs

Brent crude oil commodity price growth. Word cloud illustration.

Oil prices went up on Monday, hitting fresh two-month highs amid hopes that the 20-month oil glut would end soon.

Crude oil for April delivery gained $0.53, or 1.48% to trade higher at $36.45 a barrel by 2:45AM ET on the New York Mercantile Exchange. During the session, prices peaked at $36.72, the highest since January 5th.

According to oilfield services provider Baker Hughes, the number of oil rigs operating in the U.S. decreased for the 11th straight week last Friday, dropping to its lowest count since 2009.  A lower U.S. rig count is seen as a bullish sign for oil as it signals the likelihood of lower production in the future.

In London, Brent oil for May delivery hit an intraday peak of $39.50, the highest since January 4th, before settling at $39.12, up $0.40 cents, or 1.03% from the previous session.

Brent futures are up by approximately 25%, since falling below $30 a barrel on February 11th.

Later this week, oil traders will be looking at U.S. stockpile data on Tuesday and Wednesday for additional signs of a slowdown in U.S. production amid growing worries over a domestic supply glut.

Market players will also be watching closely the outcome of the upcoming meeting between OPEC and non-OPEC producers.

Set Your Business Up For Success
Want to make this your most successful year yet? Make sure to cover all your bases. Focus on what you do best and find experts for all of the rest. Fiverr is a great place to find professional help in every field imaginable. Have countless to-dos? Fiverr’s freelancers can be counted on to do them all. On time and on budget.

Wondering where to start? Here are your 3 steps to business success:
1. Build a Better Brand
Want a brand that earns your customers’ trust and loyalty? Don’t confuse them with a bland brand.
Create a standout brand across every aspect of your marketing: Brand your logo, your website, your app, your social media.
You get the picture. (but make sure that picture looks good)
  • Get a world-class logo design

  • Design your social media to reflect your brand

  • Tailor your web and mobile design to fit your brand

Social Media Design
Logo Design
Web Design
2. Grow Your Customer Base
They’re not going to walk in your door if they don’t know who you are. Catch them while they’re browsing the Internet at home. Pop up on mobile while they’re walking around town. Whatever it takes to reel them in.
Pump up your presence online with these easy fixes:
  • Boost your social media marketing (SMM): Target your ideal customers and appear in their social media feeds.

  • Level up your search engine marketing (SEM): Pop to the top of the search results with your targeted ads.

  • Step up your SEO: Rank first on Google search results and get the attention your brand deserves.

Social Marketing
ASearch Engine Marketing
3. Stay Ahead of Your Digital Game
To keep pace with the latest digital trends, you have to keep up with the times. This means you need to give your users what they demand.
Constant content updates: Who wants yesterday’s news?
Short, engaging videos: Your customers crave them.
Seamless user experience (UX): Because no one wants to waste time looking around your site for info when they can find it elsewhere faster. A clean, user-friendly user interface (UI) can clean out the clutter and make your users even more engaged.
Stay ahead of the pack with:
  • Website Content

  • Short Video Ads

  • WordPress Site Building

Video Ads
Website Content
Everything your business needs is just 3 steps away!
Learn more about how to build and grow your business with
Fiverr Business Guides.


Please enter your comment!
Please enter your name here