Oil rallies as IEA warns of output limits
gulftoday -
LONDON: Oil prices rallied on Thursday, recouping some ground after sharp losses the previous session when Libya said it would resume oil exports. The rally received a boost from the International Energy Agency (IEA), which said the world’s oil supply cushion “might be stretched to the limit” due to production losses. Benchmark Brent crude oil rose $1.70, or more than 2.3 per cent, to a high of $75.10 a barrel before easing

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