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8/2, 6:28 PM (Source: TeleTrader)
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Oil turns to gains ahead of OPEC+ meeting

The prices of crude oil increased by more than 1% on Tuesday as investors looked toward the OPEC+ meeting scheduled to take place tomorrow, with markets uncertain whether the organization would answer the Biden administration's call to boost production.

Meanwhile, the American Petroleum Institute was expected to release its latest report on the state of crude inventories in the United States.

West Texas Intermediate (WTI) for settlements in September rose by 1.12% to sell for $95.28 per barrel at 12:27 pm ET, while Brent for deliveries in October gained 1.14% to go for $101.40 a barrel.

Baha Breaking News (BBN) / ND