Oil pares gains after Saudi, Russia sign pact

September 5, 2016 11:31 AM

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Oil pares gains after Saudi, Russia sign pact

LONDON Crude oil futures pared gains on Monday after top producers Russia and Saudi Arabia said they have agreed to cooperate on stabilizing the oil market, including limiting output.

Brent crude futures for November delivery were up $1.12 per barrel at $47.95 a barrel at 1125 GMT, after hitting a session high of $49.40.

Also read: The OPEC Oil Deal Sells Fake News for Real Money

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