Oil Ends Higher With Focus On Oil-cut Deal Compliance And Trump Plans To Boost Economy

By Myra P. Saefong Markets MarketWatch Pulse

Oil futures settled higher Wednesday, recouping much of the losses they suffered over the past two trading sessions. Prices found support amid expectations that President-elect Donald Trump’s plans to boost the economy will help lift energy demand and from signs of Saudi compliance with the output cut agreement. U.S. government data revealed a hefty weekly climb in crude and crude-product supplies but that failed to put any lasting pressure on prices. February West Texas Intermediate crude rose $1.43, or 2.8%, to settle at $52.25 a barrel.

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