Oil extends gains amid hope of output cut
Markets pin hopes on US oil producers reducing output as Saudi Arabia plans to boost supplies
11 March 2020 - 08:12
Tokyo – Oil prices climbed for a second day on Wednesday as hopes US producers would cut output lent support, but gains were capped by growing doubts about Washington’s stimulus package to fight the coronavirus, which continues to spread globally.
Brent crude futures rose $1.26, or 3.4%, to $38.48 a barrel by 4.18am GMT, while US West Texas Intermediate (WTI) crude gained $0.91, or 2.7%, to $35.27 a barrel...
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