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Oil prices rise on supply-demand rebalance expectation

Xinhua, December 14, 2016 Adjust font size:

Oil prices rose on Tuesday as the market expected crude supply and demand would rebalance early next year.

The West Texas Intermediate for January Delivery increased 0.15 U.S. dollars to settle at 52.98 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery added 0.03 dollars to close at 55.72 dollars a barrel on the London ICE Futures Exchange. Endit