Oil prices rally as lockdowns ease & OPEC cuts pave way for recovery ...United Arab Emirates

Russia Today - Economy
Oil prices rally as lockdowns ease & OPEC cuts pave way for recovery
source : Russia Today ( United Arab Emirates ) () 81
Crude prices have been gaining for the fifth straight session as the production curbs agreed by OPEC and allied countries came into force and some countries started to ease coronavirus restrictions. Futures for American oil benchmark jumped more than nine percent on Tuesday, extending their earlier gains. West Texas Intermediate (WTI) for June delivery was trading at over $22 a barrel as of 07:30 GMT, more than doubling from last week’s intraday lows. Meanwhile, international benchmark Brent for July delivery gained more than six percent to $29.02 after climbing in the previous session. Also on rt.com

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