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Jan. 19, 2021, 2:40 p.m. EST

Oil futures settle higher, buoyed by dollar weakness and expectations for further economic stimulus

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By Myra P. Saefong

Oil futures settled higher on Tuesday, with prices for the commodity lifted by weakness in the U.S. dollar. Expectations that further economic stimulus measures will lead to higher crude demand also supported prices. February West Texas Intermediate crude , which expires at the end of Wednesday's session, rose 62 cents, or 1.2%, to settle at $52.98 a barrel on the New York Mercantile Exchange.

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