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Jan. 14, 2021, 2:44 p.m. EST

Oil futures settle at their highest since February 2020

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By Myra P. Saefong

Oil futures rose Thursday, with U.S. prices logging their highest settlement since February of last year. Risky assets, including crude prices, have benefitted, in part, from expectations that the looming stimulus package announcement from President-elect Joe Biden's administration is "just the beginning of fiscal support he will deliver," said Edward Moya, senior market analyst at Oanda. February West Texas Intermediate crude rose 66 cents, or nearly 1.3%, to settle at $53.57 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since Feb. 20, FactSet data show.

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