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Oil Prices Close Higher on Output Halts

M. Ali 25 August, 2020 1:01 am Commodities, Market Update

Crude oil prices settled higher on Monday, after weather conditions in the Gulf of Mexico limited output volumes of oil and natural gas.

Brent crude futures for October delivery rose by 78 cents and finished at $45.13 per barrel.

Meanwhile, the West Texas Intermediate (WTI) futures closed higher by 28 cents at $42.62 per barrel.

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