Oil Tops $50 as Traders Ponder OPEC Accord, U.S. Stockpile Data

Updated on
  • Prices are up about 13% since producers struck deal in Algiers
  • Crude supplies declined 3.8 million barrels last week: API

Morning Meeting: OPEC Price Freeze and Saudi Bonds

Oil rose, closing above $50 a barrel in New York as investors ponder whether OPEC will follow through with production cuts. Futures extended gains after an industry report was said to show a U.S. supply drop.

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