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Oil futures end at fresh highs for the year as OPEC forecasts a fourth-quarter supply shortfall

Oil futures climbed Tuesday, with expectations that output cuts by major producers will lead to a global crude supply shortfall in the fourth quarter prompting prices for the commodity to settle fresh highs for the year.

Traders also awaited further hints on the outlook for global energy demand, with a reading on U.S. inflation and a European central bank decision on interest rates due out this week.

Price action

Market drivers

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