First Time In 10 Months, Brent Crude Hits $89 Per Barrel

For the first time in 10 months, Global oil Brent crude rose to $89.3 a barrel while US West Texas intermediate crude rose to $85.45 a barrel.

Expectations of tightening oil supplies have grown over Russia after it agreed to cut exports by 300 thousand barrels per day in September following a five hundred thousand barrels per day cut in the month of August.

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Also, Saudi Arabia is expected to roll over a voluntary one million barrels per day cut into October this year.