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Oil climbs back above US$50 after Monday's drop

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Oil climbed amid speculation that the drop below US$50 a barrel in London for the first time since January was excessive.

London

OIL climbed amid speculation that the drop below US$50 a barrel in London for the first time since January was excessive.

Brent futures gained 1.7 per cent, paring a 5.2 per cent fall on Monday. US oil prices have slumped close to levels that will curb supply growth,

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