Caspian Energy Journal Caspian European Club
Tuesday, 04 December 2018 13:00

Oil prices climb on expected OPEC-led cuts

Oil prices climb on expected OPEC-led cuts

Oil prices rose on Tuesday, extending bigger gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output, Caspian Energy News ( reports with reference to Reuters.

U.S. West Texas Intermediate (WTI) crude futures were at $53.33 per barrel at 0604 GMT, up 48 cents, or 0.7 percent, from their last close.

International Brent crude oil futures were up 51 cents, or 0.8 percent, at $62.20 per barrel.

Both crude benchmarks climbed by around 4 percent the previous session after Washington and Beijing agreed a truce in their trade disputes and said they would negotiate for 90 days before taking any further action.

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Person in charge of the newsline: Olga Nagiyeva 

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