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Category: Mid Day Movers

US presidential change signals risk appetite as Brent crude hits $40

Crude prices increased on Monday, with Brent hitting a point of $40 a barrel after Joe Biden took up the presidency of the United States, and signals a rise in risk appetite. The crude Brent LCOc1 had risen to 40.36 dollars per barrel by 91cents, or 2.3 percent, whereas the USA West Texas Intermediate Oil CLc1 was at $38.04, up 90 cents, or 2.4%.   According to Analyst, oil prices rose, gaining from a risk-on position and a weaker US dollar led by Joe Biden becoming