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Oil rebounds from lowest close in 12 years

Futures rise as much as 5.9% as Opec signals willingness to engage with other producers

LOOKING FOR A DEAL: Crude is still poised to slide on speculation that a global surplus will persist amid record US stockpiles and the potential for increased exports from Iran as sanctions are lifted.


OIL rebounded from its lowest level in more than 12 years, paring its biggest weekly loss in a month as the rout in equities eased and Opec reiterated its willingness to engage with other producers.

Futures rose as much as 5.9 per cent in New York after settling at the