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Oil prices rise amid ongoing supply cuts, but recession fears loom

Oil prices climbed on Tuesday, pushed up by supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela, although concerns about a potential recession kept markets from rising further.

Brent crude oil futures were at $67.48 per barrel at 0747 GMT, up 27 cents, or 0.4 percent, from their last close.

U.S. West Texas Intermediate (WTI) futures were at $59.35 per barrel, up 53 cents, or 0.9 percent, from their last settlement.

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