TODAY CRUDE NEWS UPDATED BY WWW.TRADEMAXINDIA.COM

Oil rises for third day as coronavirus impact may spur output cuts…….

Oil prices rose for a third day on expectations that major producers are likely to enact deeper output cuts to offset the slump in demand caused by the coronavirus outbreak in China, the world’s second-largest crude consumer.

Brent crude (LCOc1) rose 17 cents, or 0.3%, to $55.96 per barrel at 0217 GMT. U.S. West Texas Intermediate (WTI) (CLc1) rose 29 cents, or 0.6%, to $51.46 a barrel.

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