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International benchmarks for oil prices moved higher on Monday (7 November) as market regained confidence about the potential output deals between major producers after OPEC reaffirmed its commitment to cutting output. The cartel said it committed to the tentative accord the group reached in Algiers in September, and that Russia remains on board with the plan to limit output.

WTI closed at $44.89/barrel (+$0.82) for December delivery

Brent closed at $46.15/barrel (+$0.57) for December delivery