Market sentiment improved modestly amidst solid US macroeconomic data ahead of the FOMC meeting. Crude oil prices rebounded on signs of cooperation between Saudi Arabia and Russia on production cut. Gains were, however, limited by another week of increase in oil inventory. The front-month WTI contract initially rose to 32.41 before settling at 31.45, up +3.66%.
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Hopes of Saudi-Russia Output Cut Boosted Oil Prices
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