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Oil firm as signs of higher demand outweigh worries of excess

Reuters  |  LONDON 

By Libby GeorgeLONDON (Reuters) - Oil prices edged higher on Friday and were on track for solid weekly gains following positive demand signals, production issues in Nigeria and a reported decline in stocks. Brent crude futures, the international benchmark for oil, were up 43 cents at $48.85 per barrel at 1111 GMT. U.S. West Texas Intermediate (WTI) crude futures were at $46.45 per barrel, up 37 cents.Shell declared force majeure on exports of Nigeria's Bonny Light crude oil due to the closure of one of its two export pipelines, boosting both benchmarks.The contracts had already been ...

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First Published: Fri, July 14 2017. 17:17 IST