Crude oil hits two-month high
Crude oil hits two-month high
CRUDE OIL hit a two month high after a pre-Organisation of Petroleum Exporting Countries' (Opec) meeting concluded that oil supplies needed to be cut.
Officials from Iran and Saudi Arabia, who met over the weekend, stopped short of proposing a new round of cuts for the Opec nations.
But their comments boosted hopes that production cuts would be on the agenda at the Opec summit later this month.
In London, Brent crude rose more than 3 per cent to $11.92.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments