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Firmer crude price lifts stocks, hurts U.S. dollar

Reuters  |  NEW YORK 

By Rodrigo CamposNEW YORK (Reuters) - Commodity-linked stocks and world currencies got a lift on Monday from a surge in crude oil prices after major producers Saudi Arabia and Russia said they would extend oil supply cuts into 2018.Energy ministers from the world's top two oil producers said cuts, which were set to expire next month, should continue until March, longer than an optional six-month extension specified in the deal."When the two biggest oil producers of the world reach a consensus on the extension of a supply cut, the market will listen," Tamas Varga, analyst at oil broker PVM, ...

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First Published: Mon, May 15 2017. 21:25 IST
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