Oil prices rises by around one percent

Oil prices rose yesterday by around one percent as Saudi Arabia and Russia, the top exporters, confirmed that they will extend their voluntary production and export cuts until the end of this year.

In the intra-day trade,



Brent crude was trading at 86 dollars and 21 cents per barrel, while U.S. West Texas Intermediate crude was trading at 81 dollars and 85 cents per barrel when reports last came in.