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Brent oil rises above $32 on hopes of output deal

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LONDON : Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.

Brent crude futures were up 9.3%, or $2.79, at $32.73 a barrel by 1014 GMT. Brent soared as much as 47% on Thursday for its highest intraday percentage gain on record.

It closed 21% up, still about half the $66 at which it was trading at the end of 2019. U.S. West Texas Intermediate (WTI) crude also moved back into positive territory, rising 4.8%, or $1.22, to $26.54 a barrel after advancing by 24.7% on Thursday.

US President Donald Trump on Thursday said that he had brokered a deal that could result in Russia and Saudi Arabia cutting output by 10 million to 15 million barrels per day (bpd),

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Southern Ontario highway partially closed due to convoy demonstrations: police - globalnews.ca - Usa - Canada - city Detroit - county Windsor
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Southern Ontario highway partially closed due to convoy demonstrations: police
convoy demonstrations against COVID-19 measures.Police said the westbound lanes of the highway at Nauvoo Road have been shut down due to “high traffic volumes” from “freedom convoy” demonstrators.Drivers in the area are being asked to follow emergency detour route signage. Windsor-Detroit Ambassador Bridge access resumes after trucker protest blocked traffic “The OPP respects the right of everyone to freedom of expression and peaceful assembly,” police said.“The OPP asks everyone to be patient and respectful of each other despite potential inconvenience.”The closure is approximately 45 km away from the Blue Water Bridge crossing between Canada and the United States in Sarnia, Ont.It’s not clear if that’s where convoy demonstrators are intending to go.Part of Highway 402 was blocked on Sunday as well due to convoy demonstrations. Police have redirected commercial traffic to the Bluewater Bridge in Sarnia, Ont., and urged motorists to avoid the area around the Ambassador Bridge in Windsor, Ont.There, a protest against COVID-19 measures is blocking Canada-bound vehicles from crossing the Ambassador Bridge between Windsor, Ont., and Detroit for a third day.More to come.— With files from The Canadian Press#LambtonOPP have implemented a closure of westbound Highway 402 at Nauvoo Road to ensure public safety.
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