Oil prices inclined for the fifth session amid forecasts of further output reductions.
Oil jumped to its peak of the last 2 months. This comes amid solid optimism that OPEC and other producing countries may agree to extend output declines to support prices.
Oil trades at $57.97, which is a decline of 0.05 or 0.09% from the previous close of $ 58.02.
The daily range is from $57.90 to 58.36, while the trading volume is 42.317K.
Also, Brent earlier soared its highest since Aug. 1, while U.S. crude advanced to the highest since July 31.
Moreover, oil prices extended its gaining path as newly appointed Saudi energy minister Prince Abdulaziz bin Salman implied in that production limitations are on the way.