Crude oil prices edged higher on Friday, as traders closed out bets on falling prices ahead of the holiday break. U.S. crude futures rose 7 cents, or 01.3%, to $53.02 a barrel on the New York Mercantile Exchange, reversing earlier losses in light trading. Brent, the global benchmark, gained 11 cents, or 0.2%, to $55.16 a barrel on London’s ICE Futures Exchange. With OPEC and other major producers planning production cuts, crude sentiment remains bullish, analysts… Analysts expect oil prices to continue trading in a narrow range until next year when traders will begin looking for evidence that major producers are sticking to their agreement to cut output. The agreement between members of the Organization of the Petroleum Exporting Countries and other countries has kept oil above $50 a barrel for more days this month than any other since July 2015. “The rhetoric’s enough to keep it afloat or […]