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Oil prices rise on rising Middle East tension, ongoing OPEC supply cut

Updated : May 21, 2019 07:59 AM IST

Brent crude futures, the international benchmark for oil prices, were at $72.07 per barrel at 0033 GMT, up 10 cents, or 0.1 percent, from their last close.
US West Texas Intermediate (WTI) crude futures were up by 14 cents, or 0.2 percent, at $63.24 per barrel.
A meeting has been scheduled for June 25-26 to discuss the policy, but the cartel is now considering moving the event to July 3-4, according to OPEC sources on Monday, with its de-facto leader Saudi Arabia signalling a willingness to continue withholding output.
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