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Oil up nearly 3 percent on Saudi and OPEC cuts
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Oil up nearly 2 percent on Saudi and OPEC cuts
Oil prices gained nearly 2 percent on Tuesday, supported by OPEC-led production cuts which Saudi Arabia said it would surpass by over half a million barrels per day (bpd) and by U.S. sanctions against Iran and Venezuela. Brent crude futures were up $1.17 or 1.9 percent at $62.68 a barrel by 1135 GMT. U.S. West Texas Intermediate (WTI) crude oil futures rose 89 cents or 1.7 percent to $53.30.
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Oil edges up amid OPEC cuts, U.S. sanctions on Iran and Venezuela
Oil prices edged up on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although surging U.S. production and concerns over economic growth kept markets in check. U.S. West Texas Intermediate (WTI) crude oil futures were at $52.60 per barrel at 0043 GMT, up 19 cents, or 0.4 percent, from their last close. International Brent crude futures had yet to trade.
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Oil gains 1 percent after Saudi Arabia pledges more output cuts
Oil prices rose more than 1 percent on Tuesday after OPEC figures showed it cut production sharply in January, and as lead member Saudi Arabia said it would reduce its output in March by an additional 500,000 barrels. Brent crude futures gained 91 cents, or 1.5 percent, to settle at $62.42 a barrel. U.S. West Texas Intermediate (WTI) crude oil futures rose 69 cents, or 1.3 percent, to settle at $53.10 a barrel.
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Oil up 1 percent on Saudi and OPEC cuts but outlook picture clouded
Oil prices gained about 1 percent on Tuesday, supported by OPEC-led production cuts and U.S. sanctions against Iran and Venezuela, though remain wary of surging U.S. output and the outcome of U.S.-China trade talks. Brent crude futures were up 61 cents at $62.12 a barrel and U.S. West Texas Intermediate (WTI) crude oil futures rose 54 cents to $52.95 a barrel by 0950 GMT. Analysts said markets are tightening because of voluntary production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, as well as U.S. sanctions on OPEC members Venezuela and Iran.
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Oil up more than 2 percent on Saudi and OPEC cuts
Oil prices gained more than 2 percent on Tuesday, supported by OPEC-led production cuts, which Saudi Arabia said it would surpass by more than half a million barrels per day (bpd), and by U.S. sanctions against Iran and Venezuela. Brent crude futures were up $1.40, or 2.28 percent, at $62.91 a barrel by 1325 GMT. U.S. West Texas Intermediate (WTI) crude oil futures rose $1.22, or 2.33 percent, to $53.63.
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Oil gains 2 percent as Saudi Arabia readies more supply cuts
Oil prices were up more than 2 percent on Tuesday on steep OPEC production cuts, with its de-facto leader Saudi Arabia planning to drop March crude output by more than a half a million barrels per day below its initial pledge. Brent crude futures gained $1.42, or 2.3 percent, to $62.93 a barrel by 11:55 a.m. EST (1655 GMT). U.S. West Texas Intermediate (WTI) crude oil futures rose $1.20, or 2.3 percent, to $53.61 a barrel.
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Oil up on OPEC output cuts and as sanctions against Venezuela, Iran bite
Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although analysts expect surging U.S. output and concerns over economic growth to keep markets in check. U.S. West Texas Intermediate (WTI) crude oil futures were at $52.69 per barrel at 0751 GMT, up 28 cents, or 0.5 percent, from their last close. International Brent crude futures were up 38 cents, or 0.6 percent, at $61.89 per barrel.
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Oil prices rise on OPEC output cuts, as U.S. sanctions bite
Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although analysts expect surging U.S. production and concerns over economic growth to keep markets in check. U.S. West Texas Intermediate (WTI) crude oil futures were at $52.78 per barrel at 0329 GMT, up 37 cents, or 0.7 percent, from their last close. The ongoing closure of parts of the Keystone pipeline that brings Canadian oil into the United States also helped prop up WTI, traders said.
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Oil rises on OPEC cuts, U.S. sanctions on Iran and Venezuela
Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although surging U.S. production and concerns over economic growth kept markets in check. U.S. West Texas Intermediate (WTI) crude oil futures were at $52.50 per barrel at 0102 GMT, up 9 cents, or 0.2 percent, from their last close. International Brent crude futures were up 18 cents, or 0.3 percent, at $61.69 per barrel.
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Oil up nearly 3 percent on Saudi and OPEC cuts
Oil prices gained nearly 3 percent on Tuesday, supported by OPEC-led production cuts, which Saudi Arabia said it would surpass by more than half a million barrels per day (bpd), and by U.S. sanctions against Iran and Venezuela. Brent crude futures were up $1.65, or 2.7 percent, at $63.16 a barrel by 1445 GMT. U.S. West Texas Intermediate (WTI) crude oil futures also gained 2.7 percent, rising by $1.40 to $53.81.
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