U.S. oil futures up a second straight session

Wednesday, 4 December 2019 03:17 WIB

Minyak WTI


U.S. benchmark oil futures settled higher for a second straight session on Tuesday as traders weighed the possibility that the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, will announce deeper production cuts when they meet later this week.

OPEC's Joint Technical Committee, which monitors developments in the oil market, met in Vienna Tuesday, ahead of the OPEC meeting Thursday and OPEC+ gathering Friday. The committee, however, did not discuss deeper output cuts, according to tweets from analysts and traders, which cited comments from delegates.

January West Texas Intermediate oil tacked on 14 cents, or 0.3%, to settle at $56.10 a barrel on the New York Mercantile Exchange.

Source: Marketwatch


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