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Good news can't stop oil market's bad mood as short-sellers rule

Futures shake off report of declining US stockpiles to finish last week 3.9% lower

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Published Mon, Jul 10, 2017 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    New York

    EVEN good news can do little to dispel the prevailing pessimism in the oil market.

    Hedge funds paused a swift increase last month in wagers on declining West Texas Intermediate (WTI) crude prices. But there was little conviction behind a price rise, as futures shook off a report of declining US stockpiles to finish last week 3.9 per cent lower.

    Oil prices

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