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Oil up after OPEC sources say Saudi crude output fell

Reuters  |  NEW YORK 

By Stephanie KellyNEW YORK (Reuters) - Oil futures rose on Monday after OPEC sources said Saudi crude production unexpectedly fell in July, raising concerns about global oil supplies as the United States prepares to reinstate sanctions against major exporter Iran.Brent crude futures rose 94 cents to $74.15 a barrel, a 1.3 percent gain, by 11:25 a.m. EDT (1525 GMT).U.S. West Texas Intermediate (WTI) crude futures rose $1.23 to $69.72 a barrel, a 1.8 percent gain.Saudi Arabia pumped around 10.29 million barrels per day (bpd) of crude in July, two OPEC sources said on Friday, down about 200,000 ...

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First Published: Mon, August 06 2018. 21:17 IST