Oil Climbs After Saudi Arabia Cuts Exports

Kingdom to export 7% less crude by sea in November as part of OPEC’s efforts to stabilize prices

Crude Oil: 49.55 barrel, Natural gas: 2.836/MMBtu, Gold: $1286.80 per troy oz


News:

Oil markets held on to modest gains on Tuesday, after Saudi Arabia announced plans to cut its monthly exports in November, in an effort to accelerate the draining of global stocks.

Brent crude, the global oil benchmark, rose 0.4% to $56.02 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.4% at $49.76 a barrel.

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Resource: WSJ


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