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International benchmarks for crude oil settled higher on Tuesday, 17 January 2023 as investors shrugged off weak China GDP data to focus on the comments from Vice-Premiere Liu He on the country’s plans to boost local consumption, import, and investment in 2023. The brewing bullish demand expectations boost trading sentiment in the energy complex.

Brent added $1.46 or 1.7% to close at $85.92/barrel.

WTI gains 32 cents from last week to close at $80.18/barrel.