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Oil Futures Gain Over $1 Per Barrel Amid Venezuela Turmoil

Prices advanced in choppy trading following political turmoil in Venezuela, with gains exceeding $1 per barrel, according to a brief market update.

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Terms & Concepts
  • Oil futures: Exchange-traded contracts to buy or sell crude oil at a set price on a future date.
  • Choppy trading: A market condition with rapid price swings and limited directional clarity.
  • Barrel: A standard oil volume unit equal to 42 U.S. gallons (about 159 liters).