Oil spikes as Saudi Arabia, Russia move closer to output deal

Oil prices rallied sharply Thursday morning as Russia and Saudi Arabia reportedly moved closer to an agreement on production cuts. Brent crude oil, the international benchmark, rose 6.7 percent to $35.04 a barrel while West Texas Intermediate, the U.S. benchmark, climbed 12.7 percent to $28.28.

For more news, please go to FoxBusiness.com and watch Fox Business Network.

More NewslettersUnsubscribePrivacy PolicyContact Us

©2020 Fox News Network, LLC. 1211 Avenue of the Americas, New York, NY, 10036. All Rights Reserved. Privacy Policy

Fox Business never sends unsolicited email. You received this email because you requested a subscription to Fox Business Breaking News Alerts from FoxBusiness.com