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Oil rally to reverse amid US supply

Analysts say current rebound is driven by liquidity and sentiment rather than fundamentals

RETREAT IN DRILLING: The highest US oil production in three decades won't be curtailed by the idling of rigs and inventories will keep expanding, according to UBS.


THE rebound in oil will reverse because rising US production is deepening the global supply glut, according to UBS, Bank of America Corp and Commerzbank.

Brent futures entered a bull market this month as US drillers stopped using a record number of rigs, companies cut at...

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