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Oil prices at highest level since summer 2015

This Tuesday, oil prices climbed to the highest level since July 2015. According to Saxo Bank's commodity strategist, the market is now starting to feel the effects of the reduced output.

Photo: ritzau/Vahid Salemi/AP

This Tuesday, oil prices rose to the highest level since July 2015, reports Bloomberg News.

US reference oil WTI increased to USD 55.24 per barrel, while the European reference oil Brent hovers at USD 58.37 per barrel.

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