Europe

Markets - Energy - Europe

Oil prices gyrate as OPEC heavyweights head to Vienna LONDON: Oil prices edged higher on Monday, after falling as much as 2 percent in early trading, as the market grappled over the shaky prospect of major producers being able to agree output cuts at a meeting on Wednesday aimed at reining in global oversupply.Brent crude futures fell as far as 2 percent before clawing back to trade 29 cents at $47.44 per barrel at 1008 GMT.U.S. West Texas Intermediate (WTI) crude futures also recouped early losses and was trading up 15 cents at $46.21 per barrel.The choppy trading came after prices tumbled more than 3 percent on Friday as doubts grew over whether the Organization of the Petroleum Exporting Countries (OPEC) would reach agreement to help curb global supply overhang that has more than halved prices since 2014.On Sunday, Saudi Arabian Energy Minister Khalid al-Falih said that he believed the oil market would balance itself in 2017 even if ...
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