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MARKET WATCH: Crude oil prices rise on US-Saudi tensions

Light, sweet crude oil rose modestly for the November contract to settle above $71/bbl on the New York market Oct. 12 while Brent crude oil for the December contract held above $80/bbl in London. Oil prices continued their upward momentum in early trading Oct. 15 after US President Donald Trump said the US would impose “severe punishment” on Saudi Arabia if an investigation implicates the Saudi government in the suspected killing of a dissident Saudi journalist.

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