Tokyo — Oil rose to multiweek highs on Monday after Opec indicated it will likely maintain production cuts that have helped support prices in 2019, while tensions continued to escalate in the Middle East. Brent crude was up by 96c, or 1.3%, at $73.17 a barrel by 2.27am GMT (4.27am, SA time), having earlier touched $73.40, the highest since April 26. US West Texas Intermediate crude was 82c, 1.3% higher at $63.58 a barrel. The US benchmark reached $63.81 earlier, the highest since May 1. Saudi energy minister Khalid al-Falih said on Sunday there is consensus among Opec and allied oil producers to drive down crude inventories “gently” but he will remain responsive to the needs of a “fragile market”. United Arab Emirates (UAE) energy minister Suhail al-Mazrouei earlier told reporters that producers are capable of filling any market gap and that relaxing supply cuts is not “the right decision”. Meanwhile, US President Donald Trump threatened Tehran on Sunday, tweeting that a conflict w...

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