"SINGAPORE - Oil prices jumped more than $1 a barrel on Monday after the world's top exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from July, counteracting macroeconomic headwinds that have depressed markets.
Brent crude futures were at $77.64 a barrel, up $1.51, or 2%, at 0014 GMT after earlier hitting a session-high of $78.73 a barrel.
U.S. West Texas Intermediate crude climbed $1.41, or 2%, to $73.15 a barrel, after touching an intraday high of $75.06 a barrel."
Source: Reuters, 06/05/2023
