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Oil prices waver on stronger dollar, output cut optimism

Xinhua, December 16, 2016 Adjust font size:

Oil prices wavered and closed almost flat on Thursday as the market digested news of U.S. interest rates increase and the possibility of supply-demand rebalance in 2017.

The West Texas Intermediate for January Delivery dropped 0.14 dollars to settle at 50.90 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery added 0.12 dollars to close at 54.02 dollars a barrel on the London ICE Futures Exchange. Enditem