Share 'Oil up 1 percent on Saudi comments, forecast of U.S. inventory drop'
Brent oil rose 1 percent on Tuesday after top exporter Saudi Arabia said it was determined to end a supply glut, while prices also drew support from forecasts of a further drop in U.S. crude inventories as well as nervousness over tensions in Iraqi Kurdistan.
The oil market has been concerned that, once the supply deal expires, producers will ramp up shipments again and cause prices to fall.
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