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Oil Holds Gains With China Demand and Geopolitical Risk in Focus

Bloomberg · last updated

Oil steadied after a two-day gain, with the outlook for China’s economy and geopolitical risk in the Middle East remaining in focus.

Brent crude traded near $71 a barrel after rising by 1.7% over the past two sessions, with West Texas Intermediate above $67. There were optimistic signals in the world’s two biggest crude consumers, with Beijing planning further measures to boost consumption, while US retail sales came in stronger-than-expected — although they still showed a modest slowdown.

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