By Ipek Ozkardeskaya,GENEVA — Chinese services PMI printed the first extension since January and the fastest since October 2010, the Australian GDP contracted 0.3% in the first quarter, slightly less than -0.4% penciled in by analysts and the US oil inventories fell 500’000 barrels last week accord»»»

LONDON (Reuters) - Oil prices rose on Tuesday to near three-month highs on expectations that major producers would agree to extend output cuts that have shored up prices, during a video conference likely to be held this week. Benchmark Brent crude LCOc1 rose 2.5%, or 97 cents, to $39.29 a barrel as»»»