Bullionguru’s,”Oil rises for second day in a row on OPEC support pledges”

© Reuters. Oil rises for second day in a row

Oil prices continued higher in European trade on Tuesday, extending gains into a second session after OPEC producers pledged further support measures to help speed the rebalancing of global supply and demand.

The U.S. West Texas Intermediate crude September contract was at $46.62 a barrel by 3:40AM ET (0740GMT), up 28 cents, or around 0.6%.

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