Crude oil prices rise ahead of OPEC meeting

Crude oil prices have risen to their highest level in months, ahead of the meeting of Organization of Petroleum Exporting Countries ministers scheduled for Mar. 23 in Vienna. While the price rise appears to be linked to the meeting, there is little confidence, either among industry analysts or even OPEC oil ministers, that the gathering will lead to a market-moving agreement. Brent crude for April delivery closed at $12.07/bbl in London trading on Mar. 8, having risen from $10.82/bbl on Mar. 1. During the same time, prompt-delivery Brent leapt to $11.58/ bbl from $10.32/bbl. Some of the market optimism appeared to be linked to a meeting slated for Mar. 11 of oil ministers...

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