KONTAN.CO.ID - SINGAPORE. Oil futures rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June in a bid to help drain the glut in the global market that has built up as the coronavirus pandemic crushed fuel demand. Tuesday (12/5), 12.00 WIB, Brent crude futures advanced 0.5%, or 15 cents, to US$ 29.78, after hitting an intraday high of $30.11 a barrel. U.S. West Texas Intermediate (WTI) crude futures were up 1%, or 26 cents, at U$$ 24.40 after touching an intraday high of US$ 24.77.
Oil prices boosted by Saudi Arabia pledge to deepen output cut
KONTAN.CO.ID - SINGAPORE. Oil futures rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June in a bid to help drain the glut in the global market that has built up as the coronavirus pandemic crushed fuel demand. Tuesday (12/5), 12.00 WIB, Brent crude futures advanced 0.5%, or 15 cents, to US$ 29.78, after hitting an intraday high of $30.11 a barrel. U.S. West Texas Intermediate (WTI) crude futures were up 1%, or 26 cents, at U$$ 24.40 after touching an intraday high of US$ 24.77.
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