LONDON—Benchmark Brent oil climbed above $100 a barrel on Wednesday after Saudi Arabia suggested this week that OPEC could consider cutting output in response to poor liquidity in the crude futures market and fears about a global economic downturn.
Brent for October settlement reached a three-week high, trading up $1.30, or 1.3 percent, at $101.52 a barrel by 0850 GMT. U.S. crude was up $1.18, or 1.3 percent, at $94.92 a barrel.
