SINGAPORE — Oil prices edged down on Tuesday but held near one-year highs touched on the growing expectation of an output cut by Opec producers, with traders saying the price outlook remains bullish as confidence in crude markets rises.Oil prices jumped as much as 3% on Monday, with Brent hitting a one-year peak, after Russia and Saudi Arabia both said a deal between oil cartel Opec and non-Opec members like Russia in curbing crude output was possible.International Brent crude oil futures were trading at $53.04 a barrel at 2.25am GMT, down 10c from their previous close, not far off Monday’s $53.73 a barrel high.US West Texas Intermediate (WTI) crude futures were at $51.24 a barrel, down 11c from their last close, but also near Monday’s high of $51.60 a barrel."Oil rose to a one-year high on optimism regarding a future agreement between Opec and major producers to restrict output," ANZ bank said on Tuesday.Carsten Fritsch of Germany’s Commerzbank said "the expectations of an Opec pro...
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