Oil prices jump amid increasing demand

New York, Nov 4 (IANS) Oil prices surged on Tuesday as market expected US refiners to consume more crude after maintenance season.

The West Texas Intermediate for December delivery moved up $1.76 to settle at $47.9 a barrel on the New York Mercantile Exchange, while Brent crude for December delivery increased $1.75 to close at $50.54 a barrel on the London ICE Futures Exchange.

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