Oil prices were firm on Friday, supported by ongoing supply cuts led by producer...
SINGAPORE - Oil prices were firm on Friday, supported by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on petroleum exporters Iran and Venezuela.
U.S. West Texas Intermediate crude futures were at $63.78 per barrel, up 20 cents, or 0.3 percent, from their previous settlement. Oil markets have been pushed up by more than a third this year by supply cuts led by the Organization of the Petroleum Exporting Countries , U.S. sanctions on oil exporters Iran and Venezuela, and escalating fighting in Libya.
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