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Oil rebounds as Saudi Arabia hints at Opec deal for September

Published Sun, Aug 14, 2016 · 09:50 PM
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London

OIL rebounded last week from recent lows after Opec sprang a surprise September meeting, at which Saudi Arabia hinted that producers could agree to limit output.

At 1600 GMT on Friday, West Texas Intermediate (WTI) crude for September delivery added 84 cents at US$44.33 a barrel compared with Thursday's closing level.

European benchmark Brent North Sea crude for October rose 65 cents to US$46.69 per barrel.

Both contracts traded far above the three-month lows forged ea…

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