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U.S. oil benchmark closes at more-than-8-month high just shy of $45 a barrel

Oil futures rallied sharply Tuesday, pushing the U.S. benchmark to its highest close for a most actively traded contract since March 5. West Texas Intermediated crude for January delivery rose $1.85, or 4.3%, to end at $44.91 a barrel on the New York Mercantile Exchange. Oil has been in rally mode since early November, rallying in step with equities as investors appeared to look past rising COVID-19 cases in the U.S. and Europe, focusing instead on progress toward a vaccine. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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