Speaking the Nations Mind

Oil Prices Rise Sharply

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Oil prices rose on Tuesday, lifted by indications that supply may be tightening gradually, especially in the United States.

Benchmark Brent crude oil LCOc1 was up 20 cents at $51.86 a barrel by 0930 GMT. U.S. light crude CLc1 was 15 cents higher at $47.52.

“U.S. crude oil stocks have been falling consistently in recent weeks,” said Fawad Razaqzada, market analyst at futures brokerage Forex.com.

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