Tuesday 3 March 2015
 
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oversupply

Oil steadies above $60 after sharp Monday fall

Brent crude oil prices steadied above $60 a barrel in early Asian trading on Tuesday, supported by traders entering the market after prices dropped sharply in the previous session on the back of record US stocks. Brent futures fel

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Oil rises above $59 on hopes of economic recovery

Brent edged above $59 a barrel on Tuesday after a 2-per cent slide the session before, buoyed by cautious optimism on the outlook for the global economy. But the international oil benchmark is still 6-per cent off a peak reached a

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China to hike oil product exports, add to glut

Beijing has raised the initial volume of oil products that Chinese refiners can export this year, potentially adding to a supply glut just as new processing capacity in the Middle East is expected to pressure fuel prices and depress margins.

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China to hike oil product exports, add to glut

Beijing has raised the initial volume of oil products that Chinese refiners can export this year, potentially adding to a supply glut just as new processing capacity in the Middle East is expected to pressure fuel prices and depress margins.

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Oil turns lower as glut continues to weigh

Oil prices turned lower on Monday after a firm start, with an oversupply continuing to weigh on the market despite data showing Japan had pulled out of recession. Prices initially rose in early Asian trade but then dipped as the r

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Oil tops $60 for first time in 2015; glut persists

Oil hit its highest level for the year on Friday with Brent crude rising above $60 a barrel, as eurozone economic growth exceeded expectations and market bulls priced in another drop in the US oil rig count. Bets that falling expl

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Oil near $55 after big fall on record US crude stocks

Brent hovered near $55 a barrel on Thursday after data showed US crude stockpiles set a record for the fifth week in a row, renewing fears that supply is still far outpacing demand. March Brent futures were up 34 cents to $55 a ba

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Oil slips below $56 as oversupply fears linger

Oil slipped below $56 a barrel on Wednesday, pressured by expectations that oversupply in world markets would persist and an industry report saying US crude stocks rose from a record high. The American Petroleum Institute said on

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Oil holds above $56 as US crude stocks edge up

Brent crude held steady above $56 a barrel on Wednesday, and US crude rose briefly more than $1, after a smaller than expected rise in US crude stocks were viewed by some as a sign that a supply glut was starting to abate. The gai

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Oil near 6-year low as US stockpiles hit record high

Oil remained weak in Asia on Thursday after data showing record US stockpiles sent prices tumbling to the lowest level in nearly six years in the previous session and analysts said a global glut would continue to keep the market under pressure.

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