The Brent oil price strapped on the rocket boosters last night, up 5% to $48.84, as OPEC agreed to an output cut:
From the WSJ:
OPEC on Wednesday reached an understanding that a crude-oil-production cut is needed to lift petroleum prices, people familiar with the matter said, but the cartel will wait until November to finalize a plan to tackle a supply glut that has lasted longer than expected.
