Oil prices spike on end of Saudi discount

April 6, 2015 1:47 PM

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Oil prices spike on end of Saudi discount

West Texas Intermediate moves back about the $50 threshold.

Brent crude oil prices were up more than 2.5 percent in early Monday trading to around $56.40 per barrel. Brent see-sawed last week as the market weighed the prospects of more available Iranian crude oil as a result of nuclear negotiations in Switzerland.

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