Oil Prices Rise as Venezuela Sees Output Deal
Oil
Singapore - QNA
Oil prices rose on Monday, after Venezuela said OPEC and non-OPEC producers were close to reaching an output deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted.
Venezuelan President Nicolas Maduro has said that a deal could be announced this month to stabilize oil markets, which have come under pressure due to a persistent glut and a price collapse over the past two years.
Brent crude futures were at $46.54 per barrel at 0645 GMT, up 77 cents, or 1.7%, from their previous settlement.
US crude was up 78 cents, or 1.8%, at $43.81 a barrel.
Source : QNA
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