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...