August 6, 2023 9:39 PM

Global crude oil prices rise for 6th straight week, after top producers Saudi Arabia & Russia extended supply cuts through September, adding to undersupply concerns

Global crude oil prices rose for the sixth straight week, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns. It is the longest streak of weekly gains this year. Brent crude oil futures have risen 17 percent and WTI by 20per cent in the last six weeks. Brent ended to week at 86.24 dollars a barrel on Friday, while the US crude closed at 82.82 dollars a barrel. Both benchmarks hit their highest levels since mid-April on Friday. ...