Crude oil prices rise nearly 3% ahead of Opec+ meeting, easing lockdowns
NEW YORK: Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and US states begin to restart after coronavirus lockdowns.
Brent crude rose 2.7 per cent, or $1.04, to $39.36 a barrel by 11:37 a.m. EDT (1537 GMT).
US West Texas Intermediate crude (WTI) climbed 2.5 per cent, or 87 cents, to $36.31 a barrel.
