Oil prices rise, set for sixth weekly gain on extended supply cuts

Oil prices rise, set for sixth weekly gain on extended supply cuts

Via Natalie Grover in reuters.com: Oil prices were on track for a sixth week of gains after Saudi Arabia and Russia, the worlds second and third-largest crude producers, pledged to cut output through September. Brent crude futures for October rose 31 cents to $85.45 a barrel by 1059 GMT, while U.S. West Texas Intermediate crude for September were up 32 cents to $81.87. Both benchmarks were set for their longest streak of weekly gains this year. Brent has risen 15.4% and WTI by 18.2% during the last six weeks.





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