Oil Rallies on Russia-Ukraine Dispute

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Oil shot up more than $2 on Tuesday after touching two-and-a-half month highs as big money funds flooded commodity markets and consumers feared a row over Russia’s natural gas price to Ukraine could crimp European supplies.


U.S. crude closed up $2.06 to $63.10 a barrel after reaching $63.80, the highest level since mid-October and the biggest daily jump since mid-September. London Brent crude traded up $2.47 to $61.45 a barrel on Tuesday.


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