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Bloomberg reported that oil jumped $3.91 to settle at $87.66 a barrel.
Bloomberg reported that oil jumped $3.91 to settle at $87.66 a barrel.
As quoted in the market news:
Prices gained 4.7 percent as the European Central Bank is forecast to cut interest rates this week. A state-owned newspaper in China said the time is right to increase liquidity in the banking sector. Iran fired several missiles during a three-day military exercise as the country threatened to block tanker traffic in the Strait of Hormuz.