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Futures Movers: Oil prices rally, with U.S. crude notching the first gain in 6 sessions

Oil rallied Wednesday, with U.S. prices notching their first gain in six sessions on the back of reports that the OPEC will keep crude production curbs in place until at least the end of the year.

Prices in recent sessions had declined on concerns that the Organization of the Petroleum Exporting Countries and non-OPEC members led by Russia would decide to lift output to help make up for any loss production from Venezuela and Iran.

July West Texas Intermediate crude CLN8, +2.40% rose $1.48, or 2.2%, to settle at $68.21 a barrel on the New York Mercantile Exchange, after marking its lowest close in the previous session since April 17, according to FactSet data.

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