KONTAN.CO.ID - LONDON. Oil prices extended gains on Wednesday, as investors mulled supply risks stemming from Ukrainian attacks on Russian refineries and the potential for escalation in the Middle East conflict, while OPEC+ ministers made no changes to current output cuts in a meeting. Brent crude futures for June rose 75 cents, or 0.84%, to $89.67 per barrel at 1130 GMT, while U.S. West Texas Intermediate crude futures for May gained 73 cents, or 0.86%, to $85.88 a barrel. OPEC+ ministers made no fresh policy recommendations in a meeting on Wednesday, two sources said, after the group already decided to extend current production cuts until June last month.
Brent Oil Futures Rise Towards US$ 90 as Supply Risks Intensify
KONTAN.CO.ID - LONDON. Oil prices extended gains on Wednesday, as investors mulled supply risks stemming from Ukrainian attacks on Russian refineries and the potential for escalation in the Middle East conflict, while OPEC+ ministers made no changes to current output cuts in a meeting. Brent crude futures for June rose 75 cents, or 0.84%, to $89.67 per barrel at 1130 GMT, while U.S. West Texas Intermediate crude futures for May gained 73 cents, or 0.86%, to $85.88 a barrel. OPEC+ ministers made no fresh policy recommendations in a meeting on Wednesday, two sources said, after the group already decided to extend current production cuts until June last month.