Monday, 20 May 2019

Oil rises after OPEC+ says to keep output cuts - Reuters

Oil rises after OPEC+ says to keep output cuts - Reuters:

Oil hit multi-week highs on Monday after OPEC indicated it was likely to maintain production cuts that have helped boost prices this year, while escalating Middle East tensions provided further support.

Brent crude was up by 34 cents to $72.55 a barrel by 0928 GMT, having earlier touched $73.40, the highest since April 26.

U.S. West Texas Intermediate crude was up 24 cents at $63 a barrel, after hitting a three-week high of $63.81.

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