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OPEC’s lack of specific plans to raise production seems to defy Trump’s calls to increase output and cap prices
Oil prices rose further Tuesday, building on large gains from a day earlier after OPEC and its production allies decided to maintain their current production targets.
Light, sweet crude for November delivery ended 0.3% higher at $72.28 a barrel on the New York Mercantile Exchange, marking its highest closing value since early July. Brent crude, the global benchmark, rose 0.8% to $81.87 a barrel, its highest closing price since Nov. 10, 2014.