Oil prices rose on Wednesday, tracking gains in equities, as investors pinned ho...
SINGAPORE - Oil prices rose on Wednesday, tracking gains in equities, as investors pinned hopes on a potential Brexit deal between Britain and the European Union and on signals from OPEC and its allies that further supply curbs could be possible.
“While a broader trade deal seems unlikely in the immediate future, the risks for the U.S.-China trade war have been fading.” Providing more support, OPEC Secretary-General Mohammad Barkindo said the Organization of the Petroleum Exporting Countries “will do whatever in its power” along with its allied producers to sustain oil market stability beyond 2020.
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