The November Brent crude futures contract settled up$2.16, or 3.8 percent, at $59.02 a barrel, its highest since July, 2015. "If this boycott call proves successful, a good 500,000 fewer barrels of crude oil per day would reach the market," Commerzbank said in a note. Nigeria is pumping below its agreed output cap, its oil minister said. Major producers said the global market was on its way to rebalancing, while Turkey threatened to cut oil flows from Iraq's Kurdistan region to its ports. Brent crude edged up 0.1 percent to $59.10, after scaling its highest peak overnight since July, 2015.

Source: The Star September 25, 2017 22:58 UTC