Oil prices settle at 10-month high as Saudi, Russia extend supply cuts
newscatcher
2023-09-06 00:30
Oil prices settle at 10-month high as Saudi, Russia extend supply cuts
BENGALURU  – Oil  prices  rose a dollar a barrel on Tuesday to their highest since November, after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year, worrying investors about potential shortages during peak winter demand. Brent crude futures rose by $1.04, or 1.2 percent, to settle at $90.04 a barrel, closing above the $90 mark for the first time since November 16, 2022. U.S. West Texas Intermediate crude (WTI) futures gained $1.14, or 1.3 percent,, to settle at $86.

https://business.inquirer.net/419432/oil-prices-settle-at-10-month-high-as-saudi-russia-extend-supply-cuts

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