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Oil prices rally after Iran calls for non-OPEC support

Xinhua, October 4, 2016 Adjust font size:

Oil prices reversed early losses to end higher Monday, as Iran's leader asked other oil producers to join the Organization of Petroleum Exporting Countries in supporting the crude market.

The West Texas Intermediate for November delivery added 0.57 U.S. dollar to settle at 48.81 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery increased 0.70 dollar to close at 50.89 dollars a barrel on the London ICE Futures Exchange. Enditem