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Oil Rises by More than 5%

M. Ali 6 October, 2020 12:00 am Commodities, Market Update

Oil prices surged on Monday, recovering most of its losses last week, supported by an improved risk appetite after positive news about the health of US President Donald Trump.

Brent crude futures for December delivery closed higher by $2.02, or 5.1%, at $41.29 per barrel, after four consecutive daily declines.

Meanwhile, the US West Texas Intermediate (WTI) crude futures for November delivery added $2.17, or 5.9%, and finished at $39.22 per barrel, registering its first rise in three sessions.

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