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Oil holds near nine-week highs on jobs data, fall in U.S. drill rigs

Reuters  |  SEOUL 

By Jane ChungSEOUL (Reuters) - Oil prices edged lower on Monday but still held near nine-week highs, supported by robust U.S. jobs data last week and a slight fall in the U.S. drill rig count, even as rising output from OPEC capped crude markets. Global benchmark Brent crude futures were down 6 cents, or 0.11 percent, at $52.36 a barrel at 0309 GMT. U.S. crude futures were down 7 cents, or 0.14 percent at $49.51 per barrel. Prices for both benchmarks have been on the rise, holding near their highest since late May, when oil producers led by the Organization of the Petroleum Exporting ...

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First Published: Mon, August 07 2017. 09:59 IST
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