Oil futures post a third straight session climb

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Oil futures rose Thursday for a third straight session, settling at another 11-month high. Four consecutive weeks of declines in U.S. crude supplies and Saudi Arabia’s recent decision to cut its output by additional 1 million barrels per day starting next month continued to support prices. February West Texas Intermediate crude rose 20 cents, or 0.4%, to settle at $50.83 a barrel on the New York Mercantile Exchange.
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