COMMODITY
Crude oil futures ended higher on Tuesday
Jan-29-2020

Crude oil futures ended higher on Tuesday, after five successive days of losses, as prices rebounded a bit, on reports the Organization of the Petroleum Exporting Countries (OPEC) and allies might reduce crude output due to a likely drop in energy demand following the coronavirus outbreak. Besides, Data showing an improvement in US consumer confidence in the month of January, and a bigger than expected increase in durable goods orders in the month of December contributed a bit to oil’s uptick.

Crude oil futures for March gained 34 cents or 0.6 percent to settle at $53.48 a barrel on the New York Mercantile Exchange. March Brent rose 19 cents or 0.3 percent to settle at $59.51 a barrel on London's Intercontinental Exchange.

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