Oil gains 3% on global economic optimism, despite surprise U.S. crude build

NEW YORK, Jan 11 (Reuters) – Oil prices rose 3% to a one-week high on Wednesday as hopes for an improved global economic outlook and concern over the impact of sanctions on Russian crude output outweighed a massive surprise build in U.S. crude stocks.

Brent futures rose $2.57, or 3.2%, to settle at $82.67 a barrel. U.S. West Texas Intermediate (WTI) crude rose $2.29, or 3.1%, to settle at $77.41.

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