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Oil prices continue to dwindle with an unclear trend but at least the premium of the Brent oil over WTI slipped during recent weeks. Furthermore, during last week Brent oil edged down 1.27% and WTI by 0.46%. The tensions between Iran and the West are still a cause for concern but they seem to take the back seat during recent weeks. The recent OPEC report showed there is no cause for concern for now as OPEC's oil production continues to rise mainly due to Libya's growth in production, which is still isn't at its production level from 2010.
On Friday, April 13th oil (WTI) declined by 0.78% and reached $102.83/b; Brent also slipped by 0.15% to $121.58/b.
The complete crude oil market weekly analysis at Trading NRG

The gap between Brent and WTI slightly declined during last week, and was in the range of $17-$18.5 per barrel. During April the premium decreased by 9.81%.

OPEC's Oil Production Slightly Rose in March
According to the OPEC April report the OPEC oil production slightly rose during March. This rise was mainly due to the ongoing growth in Libya's oil production.

Libya's oil production rose again by 112 thousand bbl/d to 1,372 thousand bbl/d after it has reached a near halt during most of 2011. The current production levels are still nearly one third below Libya's average oil production of 1.6 million bbl/d in 2010.

Oil Stockpiles –Declined Last Week
U.S. oil stockpiles decreased last week by 3.9 million barrels. For the week ending on April 6th oil stockpiles reached 1,765.854 million barrels.

The upcoming report will be published on Wednesday, April 18th and will refer to the week ending on April 13th.