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Oil prices rise more than 4.5 per cent as equities rally
Oil prices jumped more than 4.5 per cent on Thursday after a rally in equity markets and an unexpected fall in US crude inventories, but worries over the Chinese economy and a global oil glut kept the outlook uncertain. World stock markets rose as Chinese shares recovered on hopes that government measures to stimulate the economy would pay off, while the dollar strengthened as risk aversion eased. Oil markets moved up from six-and-a-half-year lows reached earlier this week, but investors are still worried about huge fuel oversupply, which is depressing the price of crude for immediate delivery and filling stockpiles ... (full story)