North Sea Brent crude oil spot prices averaged $52 per barrel (b) in March, $3/b lower than the February average. EIA forecasts Brent prices to average $54/b in 2017 and $57/b in 2018. West Texas Intermediate (WTI) crude oil prices are forecast to average $2/b less than Brent prices in both 2017 and 2018.

West Texas Intermediate for May delivery rose as much as 38 cents to $52.62 a barrel on the New York Mercantile Exchange and was at $52.38 at 12:21 p.m. in Hong Kong, on course for its highest close since March 7. Total volume traded was about 2 percent above the 100-day average. The contract gained 54 cents to $52.24 on Friday. Brent for June settlement climbed as much as 28 cents, or 0.5 percent, to $55.52 a barrel on the London-based ICE Futures Europe exchange. Prices increased 35 cents to $55.24 on Friday. The global benchmark crude was at a premium of $2.55 to June WTI.

Brent crude futures were at $54.20 per barrel at 0708 GMT, down 16 cents, or 0.28 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were down 18 cents, or 0.35 percent, at $50.97 a barrel.

Brent crude futures, the international benchmark for oil, were at $54.52 per barrel at 0658 GMT, up 35 cents, or 0.65 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 33 cents, or 0.65 percent, at $51.35 a barrel.

International benchmark Brent futures rose 3 cents, or 0.1 percent, to $53.56 a barrel by 0658 GMT. The March contract closed the previous session down 13 cents at $52.83 a barrel. U.S. West Texas Intermediate crude futures climbed 10 cents, or 0.2 percent, to $50.70 a barrel after settling 25 cents higher in the previous session.

The light, sweet crude oil contract for May settled above $50/bbl on the New York market Mar. 30 while the May Brent contract settled above $52.90/bbl in London. Prices edged lower on both markets on Mar. 31.

Brent crude futures LCOc1, the international benchmark for oil, were at $52.70 per barrel at 0513 GMT, down 26 cents from their last close. In the United States, West Texas Intermediate (WTI) crude futures CLc1 were down 18 cents at $50.17 a barrel.

Front-month Brent crude futures, the international benchmark for oil, rose 29 cents, or 0.6 percent, to $51.62 per barrel by 0653 GMT. In the United States, West Texas Intermediate (WTI) crude futures were up 34 cents, or 0.7 percent, at $48.71 a barrel.

Benchmark Brent crude futures fell by 33 cents, or 0.65 percent, from their last close to $50.47 per barrel by 0653 GMT. In the United States, West Texas Intermediate (WTI) crude futures were down 41 cents, or 0.85 percent, at $47.56 a barrel.

Barclays Commodities Research said its analysts still believe oil prices could rise to $60/bbl in the second quarter assuming inventory draws and the OPEC production cut remains in place. “However, this would likely be temporary, and we forecast prices in the mid $50s/bbl in the second half 2017,” Barclays said.