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Oil Gains on Trade-Talk Optimism, Hopes For OPEC Extension And Forecasts For Lower U.S. Production


Wednesday, 27 November 2019 03:44 WIB

Minyak WTIbrent oilOil,Crude Oil


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Oil prices edged higher Tuesday, gaining in four of the past five sessions, amid hopes that trade talks between China and the U.S. will ultimately result in a deal that sustains global economic growth and energy demand, especially if OPEC restrains production.

The market got a slight nudge higher after a report from Russian news agency TASS, citing three sources tied to the Organization of Petroleum Exporting Countries, said the cartel and its major partners, including Russia, are mulling extending a oil production-cut deal for three to six months after its March 2020 expiry.

West Texas Intermediate crude futures for January delivery closed up 40 cents, or 0.6%, at $58.41 a barrel on the New York Mercantile Exchange. January Brent crude the global benchmark, gained 62 cents, or 0.9%, at $64.27 a barrel on ICE Futures Europe.

Soiurce : Marketwatch


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