Brent oil climbs above $100 a barrel amid talk about OPEC cuts - Business News| Latest News & Reviews On Financial Markets | Themarkettrendz

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Wednesday, 24 August 2022

Brent oil climbs above $100 a barrel amid talk about OPEC cuts

Brent for October settlement reached a three-week high, trading up $1.30, or 1.3%, at $101.52 a barrel by 0850 GMT. U.S. crude was up $1.18, or 1.3%, at $94.92 a barrel.Contracts for both crudes soared on Tuesday after Energy Minister Prince Abdulaziz bin Salman flagged the possibility of cutting production amid poor futures market liquidity and macro-economic fears.

from Commodities-Markets-Economic Times
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