# Oil Rides Biggest Two-Day Gain Since June as Fear of Glut Eases - Bloomberg

> Oil posted its biggest two-day gain since June as fears of a supply glut eased. Gains followed a Saudi-Russian understanding on a possible output accord and Alberta's plan to cut 325,000 barrels per day.

- Date: 2018-12-04 · published 2018-12-04T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10630-oil-rides-biggest-two-day-gain-since-june-as-fear-of-glut-eases-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expectations of a supply deal and Alberta's cut raise the crude price floor, supporting energy-linked feed and biofuel costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-12-04/oil-gains-as-saudi-russia-pact-and-canada-cuts-ease-supply-fears

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.