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Futures Movers: U.S. oil benchmark hits 7-year high with tight supply in focus

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Oil futures rose Monday, hitting another round of multiyear highs as investors focused on tight supply, while Saudi Arabia appeared reluctant to further loosen the taps in response to soaring crude prices.

West Texas Intermediate crude for December delivery CL00 CLZ21rose $1.07, or 1.3%, to $84.83 a barrel on the New York Mercantile Exchange, after trading at its highest since October 2014. WTI has seen nine consecutive weekly gains, based on front-month contracts — the longest streak ever, according to data going back to…

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