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Crude oil futures end higher on Monday

02 Feb 2021 Evaluate

Crude oil futures ended higher on Monday amid optimism about vaccination rollout picking up pace and as the Organization of the Petroleum Exporting Countries and its allies' production cut agreement became effective. Saudi Arabia's unilateral move to cut crude output by 1 million barrels per day contributed as well to the jump in oil prices.

Crude oil futures for March rose $1.35 or 2.6 percent to settle at $53.55 barrel on the New York Mercantile Exchange. March Brent crude gained $1.43 or 2.6 percent to settle at $56.45 a barrel on London's Intercontinental Exchange.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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