CRUDE OIL NEWS UPDATE ( www.trademaxindia.com) call@ 8218995526 , 8218997961

Oil rises 1 percent on supply cuts, but economic slowdown weighs on outlook

Oil prices rose 1 percent on Tuesday amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook capped gains.

International Brent crude oil futures (LCOc1) were at $59.64 per barrel at 0257 GMT, up 65 cents, or 1.1 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures (CLc1) were at $51.09 per barrel, up 58 cents, or 1.2 percent.

© Reuters. File photo of a worker walking past a pump jack on an oil field owned by Bashneft, Bashkortostan

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