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Why Oil Stocks Are Going Ballistic Today

Why Oil Stocks Are Going Ballistic Today

Oil prices are in rally mode today. WTI, the main U.S. oil price benchmark, was up 4.5% to about $39 a barrel by 10:15 a.m. EDT on Friday. Fueling the rebound in crude prices was a report that OPEC and its partners had agreed to extend their historic production cut by another two months.