OIL PRICE: ABOVE $40
REUTERS - JUNE 5, 2020 - Oil prices moved higher on Friday as traders await cues from a meeting that could take place as soon as this weekend where major oil producers will discuss whether to extend record production cuts.
Brent crude futures were up 27 cents, or 0.7%, at $40.26 a barrel as of 0620 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 17 cents, or 0.5%, to $37.58 a barrel.
Brent has risen about 14% this week, while WTI is up nearly 6%,…
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