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Oil rises on tightening supplies; ample US output caps gains

Updated : April 18, 2019 01:09 PM IST

Brent crude futures were at $71.71 a barrel at 0500 GMT, up 9 cents, or 0.1 percent, from their last close and not far off Wednesday's five-month high of $72.27 a barrel.
Global supply has also been tightened further by US sanctions on OPEC members Venezuela and Iran.
Surging US production has filled some of the gap in supplies.
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