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Oil gained on supply concerns, expectations for duel switchingOil gained on supply concerns, expectations for duel switching |
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International benchmarks for crude oil settled higher on Wednesday, 14 September 2022 on the expectations that more power-generating plants would switch from gas to oil this winter due to high prices. However, the gains were capped by the lingering fear that the continued COVID-19 lockdown in China.
Brent added 93 cents to close at $94.10/barrel.
WTI increased $1.17 to settle at $88.48/barrel.
