Oil prices stabilized Thursday, having erased last week’s gains, with rising production and exports from the U.S. knocking investor confidence over how quickly supply cuts elsewhere could reduce the global glut. Brent crude, the global oil benchmark, rose 0.8% to $56.25 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.3% at $50.15 a barrel.

Source: Wall Street Journal October 05, 2017 09:56 UTC