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Oil surges on signs of US supply cuts

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Published Sun, Feb 8, 2015 · 09:50 PM

London

WORLD oil prices surged last week after recent heavy losses, aided by signs of tightening US supplies, according to analysts.

Coffee prices in New York also recovered on indications of possible tightness for Brazilian supplies, while gold dropped further as the shine was taken off its status as a haven following positive US jobs figures.

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