Oil prices gain on Wednesday

International benchmarks for oil prices edged higher on Wednesday (2 Feb) in spite of data from the US Department of Energy showed an lofty increased in crude oil and distillate oil inventories. Market believed that the latest oil inventories report was overshadowed by speculation of a potential producer deal to limit output. This is especially sounded optimistic when Venezuela oil ministry statement promising a meeting between at least 15 or more oil producer soon. 

WTI closed at   $34.66/b (+$0.26)
Brent closed at $36.93/b (+$0.12)

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