Oil prices rise on signs of output reduction

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Oil

Oil prices rose Tuesday as report showed major global oil producers complied with a deal to ease supply glut last month.

The West Texas Intermediate for March Delivery added 0.27 dollars to settle at 53.20 dollars a barrel on the New York Mercantile Exchange, while Brent crude for April delivery increased 0.38 dollars to close at 55.97 dollars a barrel on the London ICE Futures Exchange. Enditem

Source: Xinhua/NewsGhana.com.gh

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