Oil gains on U.S.-China deal, but IEA forecast pressures prices
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LONDON/TOKYO (Reuters) - Oil rose on Thursday as the long-awaited Phase 1 trade deal between the United States and China brought some relief to markets, but the gains were capped after the International 7Energy Agency said it expected oil production to outpace demand.Brent was up 50 cents, or 0.8%, to $64.50 a barrel by 1449 GMT, and West Texas Intermediate rose by 38 cents, or 0.7%, to $58.19 a barrel. Under the Phase 1 trade deal, China committed to buy over $50 billion more of U.S. oil,..