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Oil Maintains Rising Trend for Second Day

M. Ali 15 October, 2020 1:00 am Commodities, Market Update

Oil prices maintained gains for the second consecutive session on Wednesday, amid commitment by OPEC+ leaders to output cuts.

Brent futures for December delivery gained 87 cents, or 2.1%, to settle at $43.32 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for November delivery finished higher by 84 cents, or 2.1%, at $41.04 per barrel.

Crude price gains were limited due to concerns about the impact of a COVID-19 second wave on demand for oil.

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