US crude futures climb over US$2/bbl

Brent crude futures for October expired up US$1, or 1.2%, at US$86.86 a barrel, while the US West Texas Intermediate crude futures (WTI) for October settled at US$83.63 a barrel, up US$2, or 2.5%.

HOUSTON: US crude oil prices gained more than US$2 a barrel on Thursday, rising for a third month in row, on expectations that cuts by the Opec+ group of oil producing nations, led by Saudi Arabia, would continue through the end of 2023.

Brent crude futures for October expired up US$1, or 1.2%, at US$86.86 a barrel. The more active November contract gained US$1.59, or 1% at US$86.83.