Brent crude futures settled up 18 cents atUS $42.90 a barrel, after moving lower earlier in the session. U.S. West Texas Intermediate (WTI) crude futures rose 19 cents to $40.29 a barrel. (File pic shows Opec HQ with logo)
NEW YORK: Oil prices rose slightly on Tuesday as OPEC and its allies cut production by more than agreed to in June, although demand concerns lingered due to increased cases of COVID-19 in the United States.
Brent crude futures settled up 18 cents atUS $42.90 a barrel, after moving lower earlier in the session. U.S. West Texas Intermediate (WTI) crude futures rose 19 cents to $40.29 a barrel.
Crude futures strengthened in post-settlement trading, rising after the American Petroleum Institute, a trade group, said U.S. crude inventories fell more than expected in the latest week.
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