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Oil Prices increase on market optimism

Xinhua, December 29, 2016 Adjust font size:

Oil prices edged up for a fourth consecutive session on Wednesday as market remains optimistic that oil producers will cut production in January as promised.

The West Texas Intermediate for February Delivery increased 0.16 U.S. dollars to settle at 54.06 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery added 0.13 dollars to close at 56.22 dollars a barrel on the London ICE Futures Exchange. Enditem