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Oil prices climb ahead of data

Xinhua, April 4, 2017 Adjust font size:

Oil prices ended higher on Tuesday as investors were awaiting the closely-watched U.S. crude inventories data.

The U.S. Energy Information Administration will announce the country's weekly crude stockpiles report on Wednesday.

It was widely expected that U.S. crude and oil product stocks probably fell last week after rising for two consecutive weeks.

Media reports said on Monday that Libya's Sharara oil field, the country's largest, resumed production on Sunday after a week-long disruption.

Analysts pointed out that the expectations of fewer stocks outweighed news of higher Libyan production and supported the oil prices on Tuesday.

The West Texas Intermediate for May Delivery added 0.79 U.S. dollars to settle at 51.03 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery increased 1.05 dollars to close at 54.17 dollars a barrel on the London ICE Futures Exchange. Enditem