Front-month crude futures contracts posted gains on Wednesday amid a growing belief that Opec production cuts may soon begin to balance the decline in oil demand triggered by the global economic downturn.The Brent March contract on ICE Futures gained $1.40 at $45.02 per barrel. The Brent contract has recently been considered as the best yardstick for the global price of oil as the price of the Nymex contract was distorted by rising crude stocks in Cushing, Oklahoma.
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