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Oil approaches 2015 highs on fewer U.S. rigs, OPEC

Reuters  |  SINGAPORE/LONDON 

By Henning Gloystein and Dmitry ZhdannikovSINGAPORE/LONDON (Reuters) - Oil prices rose on Monday, coming close to three-year highs on a slight decline in the number of U.S. rigs drilling for new production and sustained OPEC output cuts.U.S. West Texas Intermediate (WTI) crude futures had risen to $61.67 a barrel by 1422 GMT, 23 cents above their last settlement. WTI last week reached $62.21, the highest since May 2015.Brent crude futures were at $67.78 a barrel, 16 cents above their last close. Brent hit $68.27 last week, the highest since May 2015.Traders said the gains were due to a ...

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First Published: Tue, January 09 2018. 01:36 IST
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