Russian President Vladimir Putin called Turkey's shooting of its jet a 'stab in the back' that could have 'serious consequences'. Middle East tensions have already been heightened by Russian air raids over Syria to punish those it blamed for the downing of a Russian passenger jet over Egypt last month.

  • US gasoline futures jumped 6 percent on an expected rise in road travel around tomorrow's Thanksgiving holiday.      
  • Gasoline supplies in New York Harbor, the delivery point for gasoline futures, were also tight amid lower imports and the delayed restart of the 70,000 barrels per day gasoline making unit at Irving's St. John, New Brunswick refinery.     
  • Refining margins for gasoline rose by about USD 1 a barrel in both the US and Europe.  
  • Brent was up USD 1.43, or 3.2 percent, at USD 46.26 a barrel by 12:18 pm. EST (1718  GMT), after hitting a  two-week high at USD 46.50.

Traders have been betting WTI will fall below the 6-1/2-year low of USD 37.75 set on Aug. 27 and Brent will tumble too. Heightened geopolitical tensions across the Middle East could delay that, some analysts said.

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