Oil Updates – prices rise on concerns of lower supply, signs of US economic growth

Oil Updates – prices rise on concerns of lower supply, signs of US economic growth

LONDON: Oil prices rose on Thursday on concerns of lower supply as major producers are keeping output cuts in place and on signs of stronger economic growth in the US, the world’s biggest oil consumer, according to Reuters.

Brent futures for June rose 31 cents, or 0.4 percent, to $89.66 a barrel at 7:43 a.m. Saudi time. US West Texas Intermediate futures for May rose 30 cents, or 0.4 percent, to $85.73 a barrel. Oil Updates – prices rise on concerns of lower supply, signs of US economic growth