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April 12, 2021, 2:40 p.m. EDT

Oil futures finish higher, but off session highs

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By Myra P. Saefong

Oil futures finished higher on Monday, but off the day's highs. Prices found support on increasing tensions in the Middle East, following reports that Yemen's Iran-backed Houthi rebels attacked oil facilities in Saudi Arabia. Traders continued to show concern over the outlook for energy demand on the back of a global rise in COVID-19 cases, though some progress in the rollout of vaccinations and prospects for an economic recovery in parts of the world helped to offset those concerns, analysts said. May West Texas Intermediate crude rose 38 cents, or 0.6%, to settle at $59.70 a barrel on the New York Mercantile Exchange after trading as high as $60.77.

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