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Oil prices rise on crude reduction deal optimism

Xinhua, October 22, 2016 Adjust font size:

Oil prices ended mildly higher Friday as traders expected that major crude producers will strike a firm deal late next month to curb output.

The West Texas Intermediate for December delivery rose 22 U.S. cents to settle at 50.85 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery increased 40 cents to close at 51.78 dollars a barrel on the London ICE Futures Exchange. Endit