Q1, 2018 U.S. Crude Oil Prices Increased over 20%

According to sources, the U.S. benchmark crude oil futures settled higher for a fourth straight session on June 29, tallying a gain of more than 20% in Q1, 2018. Recent sharp declines in the U.S. crude oil stocks, output concerns linked to Venezuela, Libya and Canada, as well as uncertainty surrounding Iranian exports, have contributed to the price gains of crude oil, despite an agreement among major crude oil producers to boost the crude oil output.