Crude oil futures ended higher on Tuesday, magnifying their previous session’s gains, on easing concerns about energy demand on the back of recent upbeat updates on potential coronavirus vaccine, and increasing prospects for a fiscal stimulus soon following US President-elect Joe Biden beginning his transition to the White House. Meanwhile, traders were also betting on hopes the OPEC and its allies will discuss extending oil output curbs into next year, aiming to balance the market.
Crude oil futures for January rose $1.85 or about 4.3 percent to settle at $44.91 a barrel on the New York Mercantile Exchange. January Brent crude surged $1.70 or 3.7 percent to settle at $47.74 a barrel on London's Intercontinental Exchange.
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