Latest Oil Market News and Analysis for Dec. 11

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Oil extended an advance after the US seizure of a sanctioned tanker off Venezuela heightened geopolitical concerns.
West Texas Intermediate rose to near $59 a barrel after advancing as much as 1.4% on Wednesday. Brent crude closed above $62. US forces intercepted and seized the very large crude carrier in a move that will likely deter others from shipping crude from OPEC member Venezuela.