Oil Continues to Soar on Supply Concerns

By Anonymous

OPEC’s lack of specific plans to raise production seems to defy Trump’s calls to increase output and cap prices

Oil prices rose further Tuesday, building on large gains from a day earlier after OPEC and its production allies decided to maintain their current production targets.

Light, sweet crude for November delivery ended 0.3% higher at $72.28 a barrel on the New York Mercantile Exchange, marking its highest closing value since early July. Brent crude, the global benchmark, rose 0.8% to $81.87 a barrel, its highest closing price since Nov. 10, 2014.