An unusually severe start to the winter in the northern hemisphere helped push oil prices to 26-month highs. Atlantic basin benchmark North Sea Dated rose by $3.88/bl to $89.49/bl over the week to 2 December, while US markets came back from the Thanksgiving holiday to follow Europe higher. January WTI gained $4.14/bl over the week, closing at $88/bl, the highest front-month price since October 2008, and up by $4.75/bl on a front-month basis from before the holiday.
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