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Oil pulls back from 2-month high, but on track for weekly gain

November 22, 2019


Oil futures pulled back modestly Friday from a two-month high, but remained on track for a weekly rise on growing expectations the Organization of the Petroleum Exporting Countries and its allies will agree to extend production cuts when they meet next month.

West Texas Intermediate crude for January delivery CLF20, -0.10% fell 33 cents, or 0.6%, to $58.25 a barrel on the New York Mercantile Exchange, while January Brent crude BRNF20, +0.06%, the global benchmark, was off 21 cents, or 0.3%, at $63.76 a barrel.

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