Oil Prices Climb as OPEC+ Reassures Markets, ECB Cuts Interest Rate

OIL PRICE - TOKYO. Oil prices rose on Friday, continuing to climb after OPEC+ members Saudi Arabia and Russia indicated readiness to pause or reverse output agreements and as an interest rate cut in Europe raised the prospect of a similar U.S. move.

Brent crude futures rose 16 cents or 0.2% to $80.03 per barrel and U.S. West Texas Intermediate crude futures rose 16 cents or 0.2% to $75.71 as at 0007 GMT.