Brent crude, the international benchmark for oil prices, rose $2.78, or 2.6 percent, to $62.84 a barrel by 8:47 a.m. ET (1347 GMT). U.S. West Texas Intermediate crude futures were up $2.17, or 4.2 percent, at $53.66 per barrel.
LP
MCX Crude Tips – Watch 3949 Level, Above we See Target 4160 (Trade With Small Lots)
MCX Crude Tips – Watch 3949 Level, Above we See Target 4160 (Trade With Small Lots)
Crude Prices Up by 1 percent After Saudi Arabia Announces December Supply cut
Crude Oil prices rose by about one percent on Monday after top exporter Saudi Arabia announced a cut in supply for December, seen as a measure to halt a market slump that had seen crude decline by 20 percent since early October.