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Oil prices continued its journey uphill on Wednesday, buoyed up by OPEC-led production cuts and US sanctions. Benchmark Brent crude futures climbed 0.5%, to $69.72 a barrel, before touching $69.87. US WTI crude rose to $62.90, before settling down to $62.80 a barrel, denoting an increase of 0.4%. A Reuters survey this week indicated a four-year low in crude supply from OPEC in March.