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Oil stable on lower U.S. rig count, but below recent highs

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices were stable on Monday, supported by a slight decline in the number of U.S. rigs drilling for new production, with crude holding just below near three-year highs reached last week.U.S. West Texas Intermediate (WTI) crude futures were at $61.50 a barrel at 0800 GMT, 6 cents above their last settlement. Futures reached $62.21 last week, the most since May 2015.Brent crude futures were at $67.66 a barrel, 4 cents above their last close. Brent hit $68.27 high last week, the highest since May 2015.Traders said the gains were due to a slight ...

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First Published: Mon, January 08 2018. 13:40 IST
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