As tensions in the Middle East cooled, international crude oil prices rose sharply on April 23. Moreover, investors are looking ahead to the prospect of interest rate cuts and are paying attention to various economic indicators to be released this week.

West Texas Intermediate (WTI) crude for May delivery increased by US$1.46 (1.78%), reaching US$83.36/barrel on the New York Mercantile Exchange.

Brent crude for June delivery rose by US$1.42 (1.63%), settling at US$88.42/barrel.