NEW YORK -Oil prices soared more than $3 a barrel on Tuesday after Saudi Arabia floated the idea of OPEC+ output cuts to support prices and with the prospect of a drop in U.S. crude inventories. The Saudi energy minister said OPEC+ had the means to deal with challenges including cutting production, state news agency SPA said on Monday, citing comments Abdulaziz bin Salman made to Bloomberg. Global benchmark Brent crude gained $3.41, or 3.5 percent, to $99.88 a barrel by 10:53 a.m. EDT (1453 GMT). U.S. West Texas Intermediate crude rose $3.74, or 4.1 percent, to $94.10. "Much of the impetus behind today's strength is being driven by comments out of Saudi Arabia alluding to a poss...
Keep on reading: Oil jumps above $3/bbl on possible OPEC+ supply tightening
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Keep on reading: Oil jumps above $3/bbl on possible OPEC+ supply tightening
from INQUIRER.net https://ift.tt/JxwCXQ1
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