Oil prices climbed yesterday as US financial markets closed for President's Day.
On the New York Mercantile Exchange (NYMEX), West Texas Intermediate (WTI) for March delivery closed at $ 53.69 a barrel, up $ 0.29, or 0.5 percent, the day before.
Brent crude futures for April delivery rose $ 0.37, or 0.7 percent, to $ 56.18.
According to official data released by the Organization of Petroleum Exporting Countries (OPEC), crude oil shipments in Saudi Arabia, the largest oil producer, fell to 80.14 million barrels a day in December from 8.25 million barrels in November.
Investors are expecting major oil-producing countries to cut production cuts and expand crude oil futures and options investments to a record high.
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