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MTECHTIPS:-Crude closes slightly higher, ahead of OPEC special meeting in Vienna

MTECHTIPS:-Crude closes slightly higher, ahead of OPEC special meeting in Vienna

Crude futures closed slightly higher on a volatile, see-saw day of trading, ahead of a special OPEC meeting with a host of non-OPEC members including Russia on Wednesday. On the New York Mercantile Exchange, WTI crude for December delivery traded in a broad range between $45.75 and $46.92 a barrel, before closing at $46.29, up 0.01 or 0.02% on the session. It came one session after crude futures plunged more than 3% on Monday, as weak economic data in China combined with indications of the easing of sanctions in Iran pushed oil prices dramatically lower. Texas Long Sweet futures have fallen approximately 7% since surging above $50 a barrel earlier this month to an 11-week high. On the Intercontinental Exchange (ICE), brent crude for December wavered between a low of $48.25 and $49.17 a barrel, before settling at $48.70, up 0.09 or 0.19% on the day. Meanwhile, the spread between the international and U.S. domestic benchmarks of crude stood at $2.41, above Monday’s level of $2.36 at the close. OPEC, the world’s largest oil cartel, will convene a special meeting on Wednesday in Vienna to discuss the current state 

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