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Commodity Tips, Oil near three-year high of $69.8/bbl on output cuts by OPEC

International benchmark Brent crude futures were trading 3 cents lower at $69.84 by 1522 GMT, having risen above $70 earlier in the session.
A production-cutting pact between the Organization of the Petroleum Exporting Countries, Russia, and other producers has given a strong tailwind to oil prices, with both benchmarks last week hitting levels not seen since December 2014.