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A TORC Oil & Gas pump jack near Granum

Breakingviews - Oil’s latest boost has longer-term thrust

Oil prices are escaping their tunnel vision. Since June, Brent has oscillated between $37 and $45 a barrel, as investors wrestled with a succession of Covid-19 lockdown snakes and potential vaccine ladders. There’s more than one reason to think that the latest jump to $48 a barrel, the highest level since March, may be a new floor. 

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