Crude Oil Prices Rise

March WTI (West Texas Intermediate) crude oil (ERX) (IEZ) (USL) (RYE) futures contracts rose 0.3% and settled at $52.8 per barrel on January 31, 2017.

Crude oil prices rose after falling for two consecutive days on Tuesday due to the following factors: The weak dollar supported crude oil prices. The US dollar is trading near a two-month low. There’s higher compliance among OPEC (Organization of the Petroleum Exporting Countries) producers to cut production in January 2017.
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