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TOKYO, Feb 2 (Reuters): Oil prices rose around 1% on Tuesday after major crude producers showed they were reining in output roughly in line with their commitments, extending gains for a market thrown out of kilter by weak demand during the coronavirus pandemic.
Brent crude was up 48 cents, or 0.9%, at US$56.83 a barrel by 0754 GMT, its third straight day of gains. US oil gained 52 cents, or 1%, to $54.07. Both contracts rose more than 2% in the previous session.
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