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Oil Steadies as Supply Disruption Concerns Offset Strong Dollar

Bloomberg.com · last updated

Oil rose amid signs of tighter supplies in the near term and on stronger demand signals in the US.

West Texas Intermediate crude rose 1.7% to settle above $67 a barrel, snapping a three-day losing streak. Equity markets advanced — typically a bullish indicator for commodities — after better-than-expected US economic data allayed some fears of oil demand deterioration.

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