Oil rises 1% on Saudi Aramco's upbeat demand view, Iraq supply cut


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MELBOURNE, Aug 10 (Reuters): Oil prices climbed on Monday, supported by Saudi optimism about Asian demand and an Iraqi pledge to deepen supply cuts, although uncertainty over a deal to shore up the US economic recovery capped gains.

Brent crude futures rose 34 cents, or 0.8%, to $44.74 a barrel by 0641 GMT, while US West Texas Intermediate (WTI) crude futures were up 47 cents, or 1.1%, to $41.69 a barrel.

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Oil Prices , HIgher , Aramco Move , Iraq , Cut Supply

   

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