Brent, which is used to price over three-quarters of the world's traded oil, has been rising since late June, as leading producer Saudi Arabia has spearheaded output cuts.
At the end of June, the front month contract was at a discount to the six month contract, a structure known as contango that indicates plentiful supply.another month
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: