Oil prices jumped over two percent on Monday, as the world’s two largest producers announced the crude production cut would be extended from the middle of this year until March 2018.
North Sea Brent crude gained $1.25 or 2.46 percent to $52.06 per barrel, while US West Texas Intermediate was up by $1.21 or 2.53 percent to $49.05. Continue reading “Crude surges as Russia & Saudi Arabia back supply cuts extension”