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Oil rebounds as market seizes on discounted prices


Oil rebounds as market seizes on discounted prices
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Oil rebounds as market seizes on discounted prices
NEW YORK :Crude oil futures rebounded on Tuesday as market participants vied to take advantage of oil s two-month low touched in the previous session.
FILE PHOTO: A closed petrol pump is seen in Chuquiaguillo, on the outskirts of La Paz, Bolivia, November 17, 2019. REUTERS/David Mercado
20 Jul 2021 10:45AM
(Updated:
21 Jul 2021 05:35AM)
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NEW YORK -Crude oil futures rebounded on Tuesday as market participants vied to take advantage of oil s two-month low touched in the previous session.
Monday s selloff, spurred by demand destruction fears amid rising COVID-19 cases, pushed oil about 7per cent lower and hit other riskier assets. The oil market was also lower on news that the Organization of the Petroleum Exp ....

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European Markets Head for Positive Open After Wall Street Rebound


Earnings in focus
SAP shares fell 2.5% by the close despite raising its outlook for the second time this year, as a strategic push toward cloud computing began to bear fruit.
At the bottom of the Stoxx 600, Dutch chemicals company Corbion fell 8.4% after Barclays cut the stock to underweight.
At the top of the index, Swedish outdoor and transportation equipment manufacturer Thule Group surged 12.2% after a strong second-quarter earnings report.
British fashion retailer Next jumped 7.5% after smashing second-quarter sales forecasts and British media company Future climbed 9.2% after raising its full-year guidance.
Daimler kept its profit margin outlook unchanged but warned that the global semiconductor shortage will continue to dent car sales into 2022. The German carmaker s stock climbed slightly. ....

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