Oil prices climbed to more than two-year highs on Monday after major producers said output cuts were draining the supply glut. The oil market is having a stellar month, continuing a rally fueled by stronger demand and expectations of bigger output cuts. Brent Tops $59.00 a Barrel ICE Brent futures for November delivery reached a session high of $59.25 a barrel Monday. Prices settled on a gain of $2.16, or 3.8%, at $59.02 a barrel. That’s the highest settlement since July 2015. U.S. West Texas Intermediate (WTI) futures notched five-month highs in New York. The November contract rose $1.57, or […]
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