Oil Gains on Possible Extension to Production Cuts

17 Feb 2017   Prices

U.S. oil prices edged higher Thursday as growing U.S. inventories were offset by reports that the Organization of the Petroleum Exporting Countries was prepared to consider extending supply cuts. Light, sweet crude for March delivery settled up 25 cents, or 0.5%, at $53.36 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, lost 10 cents, or 0.2%, to $55.65 a barrel on ICE Futures Europe. On Thursday,…

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