Crude oil rose after a report of falling crude inventories and the looming sanctions against Iran fueled expectations of a tightening market.
The global oil market has recovered from an oversupply crisis thanks to a 2016 Vienna accord to curb output but remains "fragile" due to geopolitics.
Russian Energy Minister Alexander Novak said that the OPEC+ oil group may sign a new long-term cooperation deal at the beginning of December.
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