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West Texas Intermediate crude oil prices have...>

OIL
OIL: West Texas Intermediate crude oil prices have recovered from an initial
knee-jerk slide in response to OPEC and non-OPEC members' decision to extend
production cuts by nine months, to the end of 2018, which was generally in line
with expectations. Nevertheless, even with the front WTI contract recovering to
test highs near $59 per barrel earlier Friday, it is far too soon to tell if
crude is merely trading on the high side of a $50-$60 range, or is preparing to
vault the psychological $60 mark on a more sustained basis. See MNI Main Wire
story at 12:00 pm ET for details. 

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