Singapore: On Thursday, oil prices continued to rise due to expectations of reduced supply, as several OPEC producers committed to additional output cuts to offset production that exceeded their agreed limits.
Brent crude futures increased by 34 cents, or 0.5%, reaching $66.19 per barrel, while US West Texas Intermediate crude rose by 44 cents, or 0.7%, to $62.91 per barrel.
Both benchmarks closed 2% higher on Wednesday, marking their highest levels since April 3, 2025, and are poised for their first weekly increase in three weeks.
