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Oil futures end mixed as traders await confirmation of deeper production cuts

Friday, 6 December 2019 03:12 WIB

Minyak WTI

Oil futures ended on a mixed note Thursday, with U.S. prices settling unchanged for the session and global prices higher, as traders awaited a decision on output from major oil producers, following reports that OPEC and its allies have recommended cutting production by another 500,000 barrels a day.

West Texas Intermediate crude for January delivery on the New York Mercantile Exchange settled flat at $58.43 a barrel on the New York Mercantile Exchange. Prices climbed 4.2% on Wednesday to mark the highest settlement for the contract since Nov. 21, according to Dow Jones Market Data.

February Brent crude added 39 cents, or 0.6%, to settle at $63.39 a barrel on ICE Futures Europe, after surging 3.6% in the previous session.

Source: Marketwatch

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