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20-Feb2019

Crude oil futures end higher as supplies tighten

Crude oil futures ended higher on Tuesday amid reports of falling Saudi Arabian exports. Crude-oil volumes shipped from major producer Saudi Arabia fell in the first half of February to 6.2 million barrels a day, down 1.3 million barrels a day on the previous month. Traders also eyed talks between the US and China for signs of progress on trade that could ease worries about energy demand and boost crude prices. However, international benchmark Brent crude ended slightly lower after posting gains in each of the last five sessions.

Benchmark crude oil futures for March gained 50 cents or 0.9 percent to settle $56.09 a barrel on the New York Mercantile Exchange. April Brent crude declined a nickel or less than 0.1 percent to settle at $66.45 a barrel on London's Intercontinental Exchange.


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