Brent Crude Gains in London on OPEC Speculation
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Brent crude advanced for the third time in four days amid speculation that OPEC will reduce its production ceiling when it meets later this week. West Texas Intermediate also rose in New York.
Futures advanced as much as 0.8 percent in London, erasing an earlier loss. The Organization of Petroleum Exporting Countries may try to agree to cut its output limit to 29 million barrels a day, Standard Chartered Plc said today in a report. The group’s members may at least renew their commitment to bring supply closer to the current ceiling of 30 million barrels a day, according to Citigroup Inc.