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Oil prices edge up on tightening market

Xinhua, January 20, 2017 Adjust font size:

Oil prices edged up Thursday after the International Energy Agency said oil markets had been tightening even before cuts agreed by global oil producers took effect.

The West Texas Intermediate for February Delivery added 0.29 dollars to settle at 51.37 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery increased 0.24 dollars to close at 54.16 dollars a barrel on the London ICE Futures Exchange. Enditem