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Oil prices rose slightly in early Asian trade on Tuesday, a day after Saudi Arabia denied a media report that it was discussing an increase in oil supply with OPEC and its allies.
Brent crude futures rose 17 cents, or 0.2 percent, to $87.62. US West Texas Intermediate (WTI) crude futures for January began trading Tuesday, rising 7 cents, or 0.1 percent, to $80.11 a barrel.
Both benchmarks had plunged by more than $5 a barrel in the previous session after the Wall Street Journal (WSJ) reported an increase of up to 500,000 barrels per day will be considered at the OPEC+ meeting on Dec. 4. — Reuters
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