Oil Edges Higher on OPEC Cuts, Iran Tensions - News Summed Up

Oil Edges Higher on OPEC Cuts, Iran Tensions


oil prices rose to their highest level in nearly three weeks Monday on continued U.S.-Iran tensions and as major crude producers, including Saudi Arabia, signaled they may maintain production cuts until the end of this year. —West Texas Intermediate futures, the U.S. oil benchmark, ended 0.5% higher at $63.10 a barrel on the New York Mercantile Exchange. It was the highest closing price since May 1 and the fourth increase over the past five sessions.


Source: Wall Street Journal May 20, 2019 14:37 UTC



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