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U.S. West Texas Intermediate (WTI) crude futures rose $3.50, or 7.7 percent, to $48.73 a barrel, a one-week high., n# z% q+ t$ i2 S3 l: V( b, V
. @- n; I) U) W M* OOPEC said it had agreed on a proposal to reduce production by 1.2 million barrels per day, or about 4.5 percent, to 32.5 million barrels per day