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Oil Ends at 3-Year High as Prices Rally For a Fourth Session
Friday, 12 January 2018 03:57 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil prices marked another three-year high on Thursday, buoyed by a pullback in U.S. production and eight weeks of declines in domestic crude stockpiles, as traders awaited the Trump administration™s decision on whether to extend temporary waivers on sanctions against Iran.

Prices for natural gas, meanwhile, saw their highest finish in about six weeks after data showed that supplies of the commodity dropped much more than expected.

On the New York Mercantile Exchange, February West Texas Intermediate crude rose 23 cents, or 0.4%, to settle at $63.80 a barrel, after trading as high as $64.77. March Brent crude inched up by 6 cents, or 0.1%, to end at $69.26 a barrel on London™s ICE Futures exchange. Intraday, the global oil benchmark topped the psychologically important $70 level.

Source : Marketwatch

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