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Oil prices extend gains on expected OPEC-led supply cuts

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices rose on Tuesday, extending strong gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output.The 90-day truce in the trade dispute between the United States and China was also still supporting markets, traders said.U.S. West Texas Intermediate (WTI) crude futures were at $53.35 per barrel at 0137 GMT, up 40 cents, or 0.8 percent, from their last close.International Brent crude oil futures were up 40 cents, or 0.7 percent, at $62.09 per barrel.Both crude benchmarks climbed by around 4 percent ...

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First Published: Tue, December 04 2018. 08:46 IST