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Crude oil futures end higher on Thursday
Dec-02-2022

Crude oil futures ended higher on Thursday as China moved to ease some COVID-19 curbs.  Further, a weak dollar amid rising prospects of smaller rate hikes by the Fed also contributed to the increase in oil prices. The dollar drifted lower, extending losses from the previous session following Fed Chair Jerome Powell's comments indicating rate hikes could slow next month. However, Brent crude prices fell as traders awaited a weekend meeting of OPEC+ ministers.

Benchmark crude oil futures for January delivery rose 67 cents or about 0.8 percent at $81.22 a barrel on the New York Mercantile Exchange. However, Brent crude for February delivery lost 9 cents or about 0.1 percent to settle at $86.88 a barrel on London's Intercontinental Exchange.

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