COMMODITY
Crude oil futures end sharply higher on Monday
Nov-19-2024

Crude oil futures ended sharply higher on Monday on concerns about likely shortage in supplies due to an escalation in Russia - Ukraine war and a production halt at Norway's Johan Sverdrup oilfield due to power outage. Investors weighed the risk of supply disruptions after fighting between Russia and Ukraine intensified over the weekend. Besides, a weak dollar contributed as well to the rise in oil prices.

Benchmark crude oil futures for December delivery surged $2.14 or about 3.2 percent to settle at $69.16 a barrel on the New York Mercantile Exchange. Brent crude for January delivery rose $2.31 or about 3.27 percent to settle at $73.35 a barrel on London's Intercontinental Exchange. 

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