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Futures Movers: U.S. oil books first settlement above $80 in almost 7 years

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U.S. oil futures on Monday settled above $80 a barrel for the first time in almost seven years, as a global energy crisis persisted, boosting crude demand.

“From a fundamental standpoint, the story remains virtually unchanged,” said Brian Steinkamp, commodity analyst at Schneider Electric, in a daily note. “Supply is tight as the world holds steady against COVID and economic activity continues to recover, sending fuel prices across the board higher throughout the year and surging as of late with the approaching” in the Northern…

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