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Oil prices rise as traders close short Brent positions

Published 26/02/2016, 10:27
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Investing.com - Crude oil prices flipped on Friday, reversing falls in the morning as traders
closed short positions

Rises wre driven by short positions being closed ahead of Brent's expiry next
week

US crude was supported by strong gasoline demand as inventories fell last
week for the first time since early November

An increase in gasoline demand could indicate lower oil prices are supporting
demand

Oil's gains were capped amid persistent fears over a supply glut that has
pulled down prices by 70% since 2014

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