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Oil surges 3% despite continued fears of oversupply
10:30 - 28/12/2018
Information / follow up ..
Crude oil prices jumped nearly 3 percent on Friday to offset part of their losses in the previous session, but US stockpile growth and continuing concerns about the global economy kept markets under pressure.
Brent crude futures rose 2.26 percent, or $ 1.18, to $ 53.34 a barrel at 0219 GMT, after rising by 3.1 percent earlier. Brent futures fell 4.24 percent, or 2.31 dollars, to settle at $ 52.16 a barrel on Thursday.
West Texas Intermediate crude futures jumped 2.26 percent, or 1.01 dollars, after rising 3.6 percent earlier. US crude was down $ 1.61, or 3.48 percent, at $ 44.61 a barrel.
Oil prices fell on Thursday to their lowest level in more than a year, a day after the biggest daily gain in two years, under pressure from concerns about the global economy and oversupply.
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