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Oil surges more than 3 percent as trade war fears recede

In post-settlement trading, Brent hit $71.34, its highest since December 2014.

Reuters  |  New York 

Oil prices surged more than 3 percent on Tuesday as investors grew more confident the United States and China would resolve their trade dispute without damaging the global economy, while Middle East tensions and a weak dollar also supported prices. Brent crude futures jumped $2.39, or 3.5 percent, to settle at $71.04 a barrel. This was its largest single-day percentage gain since September. In post-settlement trading, Brent hit $71.34, its highest since December 2014. West Texas Intermediate crude futures gained 3.3 percent, or $2.09, to settle at $65.51 a ...

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First Published: Thu, April 12 2018. 03:02 IST
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