Oil prices on rise again

Oil prices on rise again

Oil prices were on the rise this morning as the Organization of Petroleum Exporting Countries (OPEC) delayed further cutting production to lower supply this year.

International benchmark Brent crude was trading at $58.84 per barrel at 0650 GMT with a 0.68% gain after ending Monday at $58.44 a barrel.

American benchmark West Texas Intermediate was at $53.20 a barrel at the same time with a 0.48% increase after closing the previous session at $52.94 per barrel, Anadolu Agency reported.