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ICBC Global Market: Oil and Other Commodities Market Update - April 21, 2017

Oil fell on Thursday as investors weighed rising U.S. production despite that comments from leading Gulf oil producers that an extension to OPEC-led supply cuts was likely. Front-month U.S. West Texas Intermediate crude futures closed down 0.63 percent to $50.26 a barrel. Front-month Brent crude futures settled down 0.17 percent to $52.99 a barrel. The spread between the two benchmarks stood at $2.73 a barrel.

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