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Oil prices rise to their highest since February 2020

Thu 07 Jan 2021, 11:02:21

Oil prices yesterday rose to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied oil producers. On the other hand, industry figures showed that U.S. crude

stockpiles had come down last week.

In intra-day trade, Brent crude prices were trading around USD 54 per barrel while WTI crude prices were around USD 50.50 per barrel.

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