Brent briefly roars into forties but falls as hopes for extended cuts fade

BRENT CRUDE roared back to US$40 per barrel for the first time since March yesterday, however in yet another example of the current economic volatility, fell back today as hopes for further OPEC+ cuts were dashed.

Brent briefly roars into forties but falls as hopes for extended cuts fade Brent briefly roars into forties but falls as hopes for extended cuts fade Brent briefly roars into forties but falls as hopes for extended cuts fade Brent briefly roars into forties but falls as hopes for extended cuts fade Brent briefly roars into forties but falls as hopes for extended cuts fade

Oil prices rallied on optimism that OPEC+ would meet early and extend production cuts of 9.7 million barrels per day. The cuts are due to drop in July to 7.7MMbopd.