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Oil rises, on track for solid weekly gains

Published 22/04/2016, 12:21
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Investing.com – Oil prices rose on Friday, setting crude futures on course for solid weekly gains, as market sentiment turned more upbeat despite ongoing oversupply.


Brent crude futures were trading at $44.59 per barrel at 09: GMT, up 6 cents, or 0.13% from their last settlement.

U.S. crude was up 16 cents, or 0.37%, at $43.34 a barrel.


Traders said that sentiment in the entire commodity complex had turned more confident despite ongoing oversupply, with new cash being put into the market by investors, lifting prices.

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