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Oil Maintains Best Levels Since March

M. Ali 16 December, 2020 1:27 am Commodities, Market Update

Oil prices surged on Tuesday, to close at its highest level since March, amid rising optimism about the rollout of Coronavirus vaccines.

In addition, hopes for a new stimulus package in the United States helped support crude prices during the second session of the week.

Brent crude futures for February delivery gained 47 cents, or 0.9%, to close at $50.76 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery finished higher by 63 cents, or 1.3%, at $47.62 per barrel.

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