Oil prices gain on Tuesday

Crude oil prices gain on Tuesday (Jan 26) on market talk about a possible coordination between Saudi Arabia and Russia to cut output. However, many industries experts believed that oil producing countries are not very close to this agreement. Besides, joint action to boost prices will also benefit shale oil producers in the US, who will use the result to ramp up their output again.

WTI closed at   $31.45 (+$1.11)

Brent closed at $31.80 (+$1.30)

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