Brent crude futures were up 0.4%, or 32 cents, at $75.73 a barrel by 1320 GMT. U.S. West Texas Intermediate crude rose 0.5%, or 32 cents, to $70.96
Oil rose on Monday after top exporters Saudi Arabia and Russia announced supply cuts for August, overshadowing concern over a global economic slowdown and the potential for further increases to U.S. interest rates.
Russia, seeking to nudge up global oil prices in concert with Saudi Arabia, will reduce its oil exports by 500,000 bpd in August, Deputy Prime Minister Alexander Novak said on Monday, further tightening global supplies. Both Riyadh and Moscow have been trying to prop up prices. Brent has dropped from $113 a barrel a year ago, sent lower by concerns of an economic slowdown and ample supplies from major producers.
“Investors are turning upbeat as the second half of the year kicks off. They expect tighter oil balance and buoyant equities also suggest that recession will be avoided, albeit probably narrowly,” said PVM analyst Tamas Varga.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Russian media watchdog blacklists outlets linked to Wagner mercenary chiefRussia's media watchdog blacklisted at least five media outlets affiliated with Wagner mercenary chief Yevgeny Prigozhin and blocked their websites in Russia. The move came after Wagner fighters took control of a Russian military headquarters and advanced on Moscow in what appears to have been an attempted insurrection.
Lire la suite »
3 killed, 17 wounded in Ukraine after Russian shelling - National | Globalnews.caUkrainian officials reported more civilian casualties from Russian shelling in the country’s east and south, as a visit by Spanish Prime Minister Pedro Sánchez began.
Lire la suite »
Retinol creams, oil and salves for most skin concernsGet your smoothest skin with retinol creams, oil and salves for all skin types
Lire la suite »
Award-winning Ukrainian writer dies of injuries suffered in Russian missile attack on restaurantAt least 11 others were killed and 61 were wounded in the attack on June 27
Lire la suite »
International centre opens to help hold Russian leadership accountable for aggression in UkraineThe International Center for the Prosecution of the Crime of Aggression against Ukraine is the latest step in a worldwide effort to hold Russian leadership criminally responsible for its invasion of Ukraine last year
Lire la suite »
International centre opens to help hold Russian leadership accountable for aggression in UkraineAn international centre opened Monday in The Hague to support nations already building cases against senior Russian leaders for the crime of aggression resulting from the country's invasion of Ukraine.
Lire la suite »