Oil prices boosted by Saudi Arabia pledge to deepen output cut
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MELBOURNE/SINGAPORE (Reuters) - Oil futures rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June in a bid to help drain the glut in the global market that has built up as the coronavirus pandemic crushed fuel demand.Brent crude futures advanced 0.5%, or 15 cents, to $29.78 at 0500 GMT, after hitting an intraday high of $30.11 a barrel.U.S. West Texas Intermediate (WTI) crude futures were up 1%, or 26 cents, at $24.40 after touching an..