COMMODITY
Crude oil futures end higher on Thursday
Nov-22-2024

Crude oil futures ended higher on Thursday as escalating geopolitical tensions due to the ongoing war between Russia and Ukraine outweighed recent data showing robust supply in the market, and weak demand from China. Ukraine fired British cruise missiles into Russia on Wednesday, the latest Western weapon it has been permitted to use, a day after it fired U.S. missiles. According to private report, Russia responded, launching an intercontinental ballistic missile at Ukraine, the first time Moscow has used such a powerful, long-range missile during the war.

Benchmark crude oil futures for December delivery rose $1.35 or about 1.96 percent to settle at $70.10 a barrel on the New York Mercantile Exchange. Brent crude for January delivery surged $1.44 or about 2 percent to settle at $74.25 a barrel on London's Intercontinental Exchange. 


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