(Nov 4): Global benchmarks for oil are near their highest levels since mid-2016. The generic Brent futures quoted on Bloomberg broke the US$60 mark and traded at a high of US$61.37 a barrel on Oct 31, before easing to US$60.49 on Nov 1. Brent is up more than 35% from its lowest levels in June and has traded at an average of US$53 this year. West Texas Intermediate futures rose nearly 30% from their lows in June to close at US$54.30 on Nov 1.

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