Oil prices extend gains on expected OPEC-led production cuts


Oil prices extend gains on expected OPEC-led production cuts

Oil prices rose on Tuesday, extending strong gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output.

The 90-day truce in the trade dispute between the United States and China was also still supporting markets, traders said.

US West Texas Intermediate (WTI) crude futures were at $53.20 per barrel at 0006 GMT, up 25 cents, or 0.5 percent, from their last close. International Brent crude oil futures had yet to trade. Read More

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