NEW YORK: Oil prices settled higher on Wednesday as Britain's approval of a COVID-19 vaccine boosted hopes for a demand recovery and on mounting expectations that producing countries will maintain output limits next year.
Brent crude oil futures settled up US83 cents, or 1.75%, at $48.25 a barrel. West Texas Intermediate crude settled up 73 cents or 1.64% at $45.28 a barrel.
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