Oil prices rose on Tuesday

International benchmarks for oil prices on Tuesday continue to advance as Russia said domestic oil groups supported the proposal of freezing production output at Jan’s levels. Russia and other OPEC producers are scheduled to meet in March 2016 to further discuss this agreement while United Arab Emirates also voice support. However, many industry experts sceptic that such a freeze could be agreed which has contributed to the recent volatility of oil prices.

WTI closed at   $34.40/b (+$0.65)
Brent closed at $36.81/b (+$0.24)

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