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Oil+price+rallies+after+yesterday%27s+steep+fall
Saturday, 11 April 2015 - 13:43
Oil price rallies after yesterday's steep fall
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A drop in drilling activity and rise in tensions with Iran sent oil prices up yesterday as U.S. benchmark crude closed the week above 50 Dollars per barrel for the first time since February.

U.S. drillers idled 42 oil rigs this week, a bigger drop than in the last few weekly reports suggesting that the slowdown in the oil patch isn’t coming to an end any time soon.

U.S. benchmark West Texas Intermediate crude climbed 85 cents to 51.64 Dollars on the New York Mercantile Exchange yesterday.

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