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Oil Jumps 11% to $22.54 a Barrel in Volatile Trading in New York

Dan Murtaugh

(Bloomberg) -- Oil futures in New York jumped as much as 11% as traders try to get a handle on violent price swings that have rocked the petroleum industry.

West Texas Intermediate for April delivery rose as much as $2.27 a barrel to $22.64 shortly after trading opened Thursday in Asia. The contract fell 24% on Wednesday. It expires at the end of trading Friday, presaging more volatility until then.

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