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Oil prices rise almost 2%

Oil prices rose nearly two per cent on Friday, climbing further from five-month lows hit this week, after Saudi Arabia said OPEC was close to agreeing to extending an output production cut beyond June.
 
Brent crude futures gained $1.12 to $62.79 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 92 cents, to $53.51 a barrel.


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