Crude oil futures were steady Monday, as U.S. stocks were set to kick off the second quarter with modest gains.
Supply interruptions from Libya offset concerns that OPEC's supply quota plan will flop, driving oil back above $50 a barrel last week.
There was little reaction Friday as Baker Hughes said U.S. rig counts continued to rise.
WTI light sweet oil was up 12 cents at $50.71 a barrel, improving from a recent yearly low.
On the economic front, The Purchasing Managers' Manufacturing Index or PMI for March will be released at 9.45 am ET. In the previous month, the index was at 54.2.
Institute for Supply Management's manufacturing index for March will be released at 10.00 am ET. The economists are looking for consensus of 57.1, down from 57.7 last month.
The material has been provided by InstaForex Company - www.instaforex.com
April 03, 2017 at 05:32PM
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