Oil Bounces as Venezuela Talks OPEC Cut

NEW YORK (Reuters) – Oil rose sharply on Monday after Venezuela said swelling global inventories justify an OPEC cut at the group’s meeting next week and the U.S. government predicted another busy hurricane season that could threaten rigs and refineries.

The bounce in crude prices came after a steep sell-off across the commodities sector over the past week that had oil at a six-week low earlier in the day.
Reuters