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Oil markets wary as another tropical storm heads for Gulf of Mexico

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil markets were cautious on Friday as traders monitored a tropical storm heading for the Gulf of Mexico and as China remained closed for a week-long public holiday. But the prospect of extended oil production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and other producers led by Russia helped support prices. U.S. West Texas Intermediate (WTI) crude was trading at $50.63 per barrel at 0650 GMT, down 16 cents from its last close. Brent crude was down 12 cents at $56.88 a barrel. Activity was subdued due to the Golden Week ...

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First Published: Fri, October 06 2017. 12:59 IST
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