Oil futures settle higher on the latest vaccine developments, even with U.S. supplies up a second week

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Oil futures settled higher on Wednesday, after the latest vaccine-candidate news stoked hopes for an improvement in the economy and energy demand. Prices rose despite data from the Energy Information Administration showing a second-straight weekly rise in U.S. crude supplies. December West Texas Intermediate crude rose 39 cents, or 0.9%, to settle at $41.82 a barrel on the New York Mercantile Exchange. That was the highest finish for a front-month contract since Sept. 1, according to FactSet data.
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