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Oil firms as OPEC floats extended output cut; markets still bloated - Reuters
Reuters | Oil firms as OPEC floats extended output cut; markets still bloated Reuters "Despite the headlines, the massive inventory glut in both oil and gasoline continues to thwart any upward momentum," said Stephen Innes, senior trader at OANDA in Singapore. In the United States, rising output has helped push up crude and fuel stocks ... US crude settles at $53.36, up 25 cents, as OPEC signals possible output deal extension Oil rises modestly in tight trade, boosted by OPEC hopes Oil ends higher on talk of output cut extension |
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