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Oil holds gains as Texas supports Trump-led output proposal

Friday, oil holds its gains after US President Donald Trump stepped into the price war between Saudi Arabia and Russia. In Texas, the main oil regulator proposed the state could coordinate the oil cuts with the feuding producers .

Photo: NICK OXFORD/REUTERS / X03416

Oil held gains as US President Donald Trump waded into the price war between Saudi Arabia and Russia, while a Texas regulator proposed his state could coordinate output cuts with the feuding producers.

Futures in London were little changed after rebounding on Thursday from their lowest level since the early 2000s. Texas's main oil regulator is considering curbing output for the first time in almost half a century, though the idea is still in preliminary discussions.

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