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U.S. West Texas Intermediate (WTI) crude futures rose $3.50, or 7.7 percent, to $48.73 a barrel, a one-week high. : l4 b" q4 j! z; J* R1 z % P! U; w. u/ D5 ^& j$ c( IOPEC said it had agreed on a proposal to reduce production by 1.2 million barrels per day, or about 4.5 percent, to 32.5 million barrels per day