Oil jumps nearly 3% after Opec+ delays output hike, US election in focus

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The story "Oil jumps nearly 3% after Opec+ delays output hike, US election in focus" was covered 2 weeks ago by The Star, a news publisher based in Malaysia.

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The Star 2w ago

Oil jumps nearly 3% after Opec+ delays output hike, US election in focus - The Star

Quick Summary:

OIL prices climbed nearly 3% on Monday on OPEC+'s decision for a month's delay in plans to increase output, while investors also focused on the U.S.presidential election.

Analysts expect draws this week in gasoline and distillate inventories, while crude stocks are estimated to rise.U.S.gasoline stocks fell to their lowest in two years in the week to Oct 25.

Democratic presidential nominee Kamala Harris and Republican Donald Trump remain virtually tied in opinion polls ahead of Tuesday's Election Day, and the winner might not be known for days after voting ends.