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Oil Prices Rebound Sharply After Brutal Midweek Rout
- Oil prices surged Thursday, recovering some of Wednesday's staggering losses as traders reconsidered whether the U.S. midterm election results would actually bring a swift end to the Iran war.
- Brent crude had climbed to $98.01 per barrel by early afternoon, gaining $3.39, or 3.58%, while West Texas Intermediate rose $2.21, or 2.51%, to $90.33.
- Both benchmarks continued climbing later in the session.
- The rebound followed Wednesday's extraordinary selloff, when Brent plunged $8.98, or 8.7%, to settle at $94.62.
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