European markets set to rally amid earnings; oil prices hit multi-year highs

ArticleEnergyApril 19, 2018 - 6:58:55 AM

European markets are set to rise on Thursday morning, as soaring oil prices triggered a broader rally across commodities.

The FTSE 100 is seen 12 points higher at 7,321, the CAC is expected to open up around 13 points at 5,392 and the DAX is poised to start 11 points higher at 12,607, according to IG.

Oil prices hit highs not seen since late 2014 on Thursday, following reports OPEC kingpin Saudi Arabia would be content to see crude prices surge up to $100 a barrel over the coming months.

This appeared to embolden a view among price hawks that Riyadh would continue to seek no changes to a global supply-cutting deal despite major producers edging closer to the agreement's original target...

On the same subject