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Oil rises towards $59, supported by U.S. drilling slowdown
Reuters: Brent rose towards $59 a barrel on Monday in a volatile market, continuing gains after a strong end to last week as financial traders increased bets on higher prices amid a slowdown in U.S. drilling.
Front-month Brent crude futures LCOc1 were up 82 cents at $58.69 a barrel by 0934 GMT, having earlier touched $59.54. U.S. crude CLc1 had risen 78 cents to $52.42 a barrel, after touching $53.10.
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