Oil rose modestly as traders assessed the latest salvo from OPEC+ kingpins Saudi Arabia and Russia to prop up prices by curbing supply. West Texas Intermediate edged above $70 a barrel, clawing back some of the 1.2% loss in the previous session even as the cuts were announced. Saudi Arabia said that it will prolong a unilateral 1 million barrel a day supply cut by one month into August, a move traders had expected. Separately, Russia announced a fresh reduction, while Algeria plans to make more modest curbs. Oil has lost 13% this year despite concerted efforts by the Organization of Petroleum Exporting Countries and ... (full story)