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May 17, 2021, 2:36 p.m. EDT

U.S. oil futures end at highest in more than 2 years

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By Myra P. Saefong

Oil futures climbed Monday, with optimism that an economic recovery in the U.S. and Europe will lead to higher energy demand sending U.S. prices to their highest settlement in more than two years. Prices got a boost on "hopes that large parts of Europe will soon be able to follow the U.K. on easing restrictions further, thus driving up demand over the next few weeks," said Michael Hewson, chief market analyst at CMC Markets UK. June West Texas Intermediate crude rose 90 cents, or 1.4%, to settle at $66.27 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since April 23, 2019, when prices settled at $66.30, FactSet data show.

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