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Friday, 23 December 2016

U.S. crude settles at 17-month high after small, pre-holiday gain | Reuters

U.S. crude settles at 17-month high after small, pre-holiday gain | Reuters:
"U.S. oil prices closed at a 17-month high on Friday in quiet trade ahead of the Christmas and New Year holiday week, even though the gain was small, as the market waits to see how OPEC manages its planned output cuts with Libya expecting to boost production.

Despite the 17-month high in U.S. futures, prices were little changed on Friday in a market that closed early for the Christmas holiday.

Brent LCOc1 futures gained 11 cents, or 0.2 percent, to settle at $55.16 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 gained seven cents, or 0.1 percent, to settle at $53.02, its highest close since July 2015."

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