Oil rises for second day amid hopes for output cut by US producers
Updated : March 11, 2020 08:11 AM IST
"Expectations that US shale oil producers will need to trim output helped improve the market sentiment," said Satoru Yoshida, a commodity analyst with Rakuten Securities.
Brent crude futures rose $1.38, or 3.7 percent, to $38.60 a barrel by 0126 GMT.
US West Texas Intermediate (WTI) crude gained $0.97, or 2.8 percent, to $35.33 a barrel.