TOKYO: Oil prices gained on Tuesday, as hopes rose for Opec and its allies to agree deeper output cuts when they meet this week, although gains were limited, amid some analysts’ scepticism over the achievement of further reductions.
Brent futures rose 17 cents, or 0.3 per cent, to $61.09 a barrel by 0516 GMT, after having gained 0.7 per cent on Monday.
US West Texas Intermediate crude was up 25 cents, or 0.5 per cent, at $56.21 a barrel. The contract rose 1.4 per cent on Monday.
