U.S. oil prices settle at their highest since January in wake of surprise OPEC+ production cuts

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Oil futures climbed on Tuesday, with U.S. prices settling at their highest since January.

The move marked an extension of a 6% rally a day earlier, which was driven by a surprise Sunday decision by Saudi Arabia and several of its OPEC+ allies to collectively cut crude production by more than a million barrels a day.

Price action
Market drivers

Brent…

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