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Oil Prices Settle Higher and Await OPEC+ Summit

M. Ali 19 August, 2020 1:50 am Commodities, Market Update

Oil prices showed a mixed performance on Tuesday, with the market anticipating the results of the OPEC+ summit, as well as the United States crude inventories data.

Brent crude futures for October delivery added 0.2% and settled at $45.56 per barrel, while the West Texas Intermediate (WTI) futures for September delivery finished nearly unchanged at $42.89 per barrel.

Commitment to the OPEC+ production cuts is at a record high at 97-98%.

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