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Crude oil futures settle higher on Thursday

Crude oil futures ended higher on Thursday as traders weighed potential outcomes for US-China trade talks, which may have a direct impact on demand for energy. Prices found some support from expectations that the US will extend its deadline for implementing additional tariffs on Chinese goods by 60 days. Meanwhile, trade talks between the two countries continue, US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer will meet China President Xi Jinping in Beijing on Friday.

Benchmark crude oil futures for March rose 51 cents or 1 percent to settle $54.41 a barrel on the New York Mercantile Exchange. April Brent crude gained 96 cents or 1.5 percent to settle at $64.57 a barrel on London's Intercontinental Exchange.

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