Oil futures settled at
a more than two-week high on Wednesday, buoyed by growing expectations
that major oil producers may come to an agreement on output cuts, as
U.S. government data showed a dip in domestic crude production.
March West Texas
Intermediate crude rose 85 cents, or 2.7%, to $32.33 a barrel on the New
York Mercantile Exchange. That was the highest settlement for a
most-active contract since Jan. 8. Prices were trading around $30.69
before the release of the production data.
March Brent crude the global oil benchmark, jumped $1.30, or 4.1%, to $33.10 a barrel on London’s ICE Futures exchange.
Source : Marketwatch
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