Oil stages longest rally since 2012, OPEC output may cap gains
Oil prices rose for an eighth day on Monday, their longest rally in over five years after data pointed to moderating U.S. output, but analysts said news of rising OPEC production could temper gains. U.S. crude futures rose 23 cents to $46.27 per barrel, following last week’s 7-percent gain. Drilling activity for new oil production in the United States fell for the first time since January, dropping by two rigs, while U.S. government data showed crude output fell in April for the first time this year.
Source:: https://finance.yahoo.com/news/oil-prices-rise-first-drop-070104003.html
