India, Sept. 24 -- Crude oil prices have given back some ground after skyrocketing early in the session but remain sharply higher during trading on Thursday.
After soaring by $4.62 or 5 percent to a high of $96.78 a barrel, crude for November delivery was last seen trading at $94.74 a barrel, up $2.58 or 2.8 percent.
The price of crude oil extended yesterday's surge early in the session as traders looked for signs of progress in talks between the U.S. and Iran after optimism about an end to the prolonged Middle East conflict contributed to a sharp pullback by crude oil prices early in the week.
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