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Oil prices rise, supported by saudi optimism on demand
Aug. 10, 2020
Source: Reuters

Oil prices rise, supported by saudi optimism on demand

Oil prices climbed on Monday, supported by Saudi optimism on Asian demand and an Iraqi pledge to deepen supply cuts, although uncertainty over a deal to shore up the U.S. economic recovery capped gains. U.S. WTI crude rose 50 cents, to $41.72 a barrel, while Brent crude was up 40 cents, at $44.80. Both benchmark contracts fell on Friday, but Brent still ended the week up 2.5%, with WTI up 2.4%.

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