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Oil prices waver narrowly amid supply glut concerns

Xinhua, April 20, 2017 Adjust font size:

Oil prices fluctuated in a tight range Thursday, as investors assessed rising U.S. production against remarks from leading Gulf crude producers that an extension to OPEC-led supply cuts was likely.

The West Texas Intermediate for May delivery decreased 0.17 U.S. dollar to settle at 50.17 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery edged up 0.06 dollar to close at 52.99 dollars a barrel on the London ICE Futures Exchange. Endit