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Oil rallies to highest since June on bets for bullish U.S. stockpile data:: Crude oil for November delivery on the New York Mercantile Exchange tacked on 64 cents, or 1.31%, to $49.33 a barrel by 4:05AM ET (08:05GMT), after touching $49.45 earlier, a level not seen since June 30. The U.S. Energy Information Administration will release its weekly report on oil supplies at 10:30AM ET (14:30GMT) Wednesday, amid analyst expectations for an increase of 2.56 million barrels.
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NYMEX crude down in Asia with API estimates forward, freeze speak monitored - http://worldwide-finance.net/news/commodities-futures-news/nymex-crude-down-in-asia-with-api-estimates-forward-freeze-speak-monitored
Oil prices surged 5.3% Wednesday their biggest gain in more than five months after the Organization of the Petroleum Exporting Countries signaled it could agree to limit production in November. News of a possible breakthrough among OPEC members after months of false starts caught many traders by surprise. But some analysts are questioning how much an OPEC agreement would reduce the global supply glut. U.S. crude for November delivery settled up $2.38 at $47.05 a barrel on the New York…
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Oil declines on bets for bearish U.S. stockpile data, OPEC doubts:: Oil prices were lower during European hours on Thursday, moving further away from this week's highs as market players awaited fresh weekly information on U.S. stockpiles of crude and refined products, while doubts over an output cut by major global oil producers dampened sentiment. Crude oil for November delivery on the New York Mercantile Exchange dipped 29 cents, or 0.58%, to $49.89 a barrel by 4:20AM..