Oil edges higher as OPEC signals it will cap output, Iran tension rises [CNBC]
GE Aerospace (GE)
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Source: CNBC
Oil edges higher as OPEC signals it will cap output, Iran tension rises An Iraqi worker gauges gas emissions from an oil pipe at the Daura oil refiner Getty Images Oil edged higher on Monday after hitting multi-week highs overnight, as OPEC indicated over the weekend that it was likely to maintain production cuts that have helped boost crude prices this year. Escalating Middle East tensions provided further support. Brent crude oil U.S. West Texas Intermediate crude VIDEO 3:16 03:16 Saudi energy minister: Everybody is vulnerable to acts of sabotage Capital Connection Saudi Minister Khalid al-Falih said on Sunday there was consensus among OPEC and allied oil producers to drive down crude inventories "gently" but he would remain responsive to the needs of a "fragile market." United Arab Emirates Minister Suhail al-Mazrouei earlier told reporters that producers were capable of filling any market gap and that relaxing supply cuts was not the right decision. OPEC data indicates oil inve
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