Oil prices rise as Opec+ supply cuts gain traction
The June WTI contract briefly hit a nine-week high as output cuts dovetail with renewed, albeit small, demand
London — Oil prices rose slightly on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic.
Benchmark Brent crude climbed 7c, or 0.2%, to $34.88 a barrel by 9.07am GMT, after earlier touching its highest since April 9. US West Texas Intermediate (WTI) crude was up 70c, or 2.2%, at $32.52 a barrel...
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