Optimism that production cuts will be extended into 2018 keeps oil prices higher
Crude Oil: $48.85 barrel, Natural gas: $3.349/MMBtu, Gold:$ 1228.60 per troy oz
Oil prices held on to their gains on Tuesday, supported by continued hopes that major oil producers will extend production cuts until early next year in a bid to reduce global inventories.
Brent crude, the global oil benchmark, rose 0.83% to $52.26 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.90% at $49.28 a barrel.
Crude rallied following a…Read more.
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