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Oil Edges up After Paris Attacks, French Air Strikes in Syria

3 years ago80 views

wochit

Wochit

By Henning Gloystein SINGAPORE (Reuters) - Crude oil futures rose on Monday as France launched large-scale air strikes against Islamic State in Syria, but analysts said oil and other commodities were expected to remain under pressure as oversupply weighs on prices. Crude benchmarks, which lost 8 percent last week, saw high levels of activity as commodity traders looked for direction after the deadly attacks in Paris on Friday. Front-month U.S. crude futures (CLc1) broke back above $41 a barrel, trading at $41.08 a barrel at 0425 GMT, up 34 cents from their last close.

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