You're reading: Reuters: Oil reaches one-year high after Russia signals joining output cap

Brent crude prices rose to their highest in a year on Oct. 10 after Russia said it was ready to join a proposed deal to cap oil production in a bid to stem a two-year price slide.

Global benchmark Brent crude futures LCOc1 reached the highest level since Oct. 12, 2015 at $53.22 a barrel at 1335 GMT, up $1.29 on Friday’s close.

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