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Oil rises over 1% on hopes demand will rebound from coronavirus effect

FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland
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NEW YORK (Reuters) - Oil prices rose over 1% on Friday, posting their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown.Brent crude rose 98 cents, or 1.74%, to settle at $57.32 a barrel. It rose 5.23% since last Friday, its first weekly increase in six weeks...
Date Published: Feb 14, 2020
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