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Oil prices rise on possible output cuts extension

Xinhua, April 11, 2017 Adjust font size:

Oil prices settled higher on Tuesday after Saudi Arabia expressed willingness to extend an output cut deal for an additional six months.

The West Texas Intermediate for May Delivery added 0.32 dollars to settle at 53.40 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery gained 0.25 dollars to close at 56.23 dollars a barrel on the London ICE Futures Exchange. Endit