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Brent price edges up on cautious optimism over Greek debt compromise
Oil prices edged up after early falls on Monday as parts of Asia returned from the Lunar New Year holiday, with Brent futures moving further away from $60 a barrel and U.S. contracts moving towards $51. After early trading losses, both international Brent and U.S. WTI crude futures edged up on Monday in reaction to cautious optimism that an immediate return of a eurozone crisis over Greek debt was averted by a compromise between Athens and its creditors. Benchmark Brent crude futures were trading at $60.39. at 0201 GMT, up 17 cents from their last settlement, while U.S. WTI crude was up 5 cents at $50.86 a barrel. ... (full story)
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