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Oil prices rise on expected drop in US inventories

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Oil prices rise on expected drop in US inventories

Oil prices rise on expected drop in US inventories*/

– LONDON: Oil prices ticked higher on Wednesday on expectations that US crude inventories are falling and signs that oil producers will stick to agreed output cuts that took effect this week.Global benchmark Brent crude futures were up 10 cents at $55.57 a barrel by 1110 GMT.The contract reached an 18-month high in the previous session, but a strong dollar has shaved off most of those gains.
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Oil prices rise on expected drop in U.S. crude inventories — Business — The Guardian Nigeria

Oil prices rise on expected drop in U.S. crude inventories — Business — The Guardian Nigeria*/

– Oil prices ticked higher on Wednesday on expectations that U.S. crude inventories have dropped and on signs that the world’s top oil exporters will stick to agreed output cuts that took effect this week.Global benchmark Brent crude futures LCOc1 rose 28 cents to $55.75 a barrel, a 0.5 percent gain by 10:51 a.m. Eastern.U.S. West Texas Intermediate crude futures CLc1 gained 25 cents, or 0.5 percent, at $52.58 a barrel.
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Oil prices drop on doubts over promised cut delivery

Oil prices drop on doubts over promised cut delivery*/

– Baku, Azerbaijan, Jan.5By Leman Zeynalova – Trend:World oil prices have started to fall on Jan.5, following doubts over the delivery of the production cuts by OPEC and non-OPEC countries.The price of March futures for Brent crude oil dropped by 0.32 percent and stood at $56.28 per barrel as of 01:15 EST.This is while the price of February futures for West Texas Intermediate (WTI) oil has decreased by 0.21 percent to $53.15 per barrel.
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