Oil futures settled higher Wednesday, recouping much of the losses they suffered over the past two trading sessions. Prices found support amid expectations that President-elect Donald Trump’s plans to boost the economy will help lift energy demand and from signs of Saudi compliance with the output cut agreement. U.S. government data revealed a hefty weekly climb in crude and crude-product supplies but that failed to put any lasting pressure on prices. February West Texas Intermediate crude rose $1.43, or 2.8%, to settle at $52.25 a barrel.
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