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Oil stable as strong Chinese demand eases concern of ongoing glut

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices were stable on Thursday as strong demand from China eased concerns of an ongoing fuel glut.Brent crude futures were at $47.75 per barrel at 0357 GMT, up 1 cent from their last close.West Texas Intermediate (WTI) crude futures were at $45.48 per barrel, down 1 cent from the previous session's close.China imported 212 million tonnes of crude oil, or 8.55 million barrels per day (bpd), in the first six months of the year, up 13.8 percent on the same period in 2016, customs data showed on Thursday, making China the world's biggest crude ...

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First Published: Thu, July 13 2017. 09:44 IST