Oil prices rose on Wednesday back toward five-month highs hit the previous day a...
LONDON - Oil prices rose on Wednesday back toward five-month highs hit the previous day as OPEC production cuts and U.S. sanctions on Iran and Venezuela continued to tighten supply, although economic worries increased.
U.S. West Texas Intermediate crude oil futures were at $64.33 per barrel, up 35 cents, or 0.55 percent, from their last settlement. “The global oil market is clearly moving back towards balance thanks to OPEC+ production cuts,” ING bank said.
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