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Oil's spiking after a report that OPEC reached a deal

Elena HolodnySep 28, 2016, 23:48 IST

Oil is spiking.

Prices for brent crude oil, the international benchmark, surged by 5.1% to $48.80 per dollar around 2:13 p.m. ET.

This followed a Reuters report citing "sources" that OPEC has reached a deal to limit oil production, with the execution to take place in November, according to a tweet from CNBC.

Investing.com

More to come. This story is developing...

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