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Oil prices bounce back on hopes for OPEC output freeze deal

Xinhua, November 16, 2016 Adjust font size:

Oil prices bounced back on Tuesday from three sessions of losses as the market saw an increasing chance for the Organization of Petroleum Exporting Countries to reach an output freeze deal by the end of this month.

The West Texas Intermediate for December Delivery added 2.49 U.S. dollars to settle at 45.81 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery increased for 2.52 U.S. dollars to close at 46.95 U.S. dollars a barrel on the London ICE Futures Exchange. Enditem