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New York: Oil prices climbed by nearly 1% on Thursday following US President Donald Trump’s warning of severe consequences should his talks with Russian President Vladimir Putin fail, alongside growing expectations that a US interest rate cut next month could boost oil demand.
Brent crude futures rose by 87 cents, or 1.3%, to $66.50 per barrel. US West Texas Intermediate (WTI) crude futures increased by 88 cents, or 1.4%, to $63.53 per barrel.
