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Oil back towards US$56 but outlook still fragile, say traders
Published Thu, Feb 5, 2015 · 09:50 PM
London
OIL rose towards US$56 a barrel on Thursday, recovering from part of the previous session's drop, although traders and analysts said the prospect of a further, sustained rally from near six-year lows looked weak.
Crude snapped a four-day winning streak on Wednesday, when the US government said crude inventories increased by 6.3 million barrels, rising for a fourth consecutive week to hit a record high.
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