Crude oil futures are settling at $80.82. That’s up $0.31 or 0.39%.
Oil prices rallied on Monday due to extended production cuts confirmed by Saudi Arabia and Russia.
Both Saudi Arabia and Russia agreed to continue their voluntary output cuts until the end of the year.
The price traded between its recent five-day high and low prices. The low price for the last 5 days has been down at $80.10 while the high price reached up to $83.60. Today’s range was $80.66 to $82.24.
This article was written by Greg Michalowski at www.forexlive.com.