OIL PRICE: ABOVE $58
REUTERS - Oil rebounded from several days of falling prices after industry data showed a surprise drop in U.S. crude inventories and offset weak economic readings in the United States that have depressed global stock markets.
Brent crude rose 47 cents, or 0.8%, to $59.36 a barrel by 0657 GMT, claiming back some of the ground lost over the past three sessions. U.S. West Texas Intermediate crude was at $54.29 a barrel, up 67 cents or 1.3%.
Front-month WTI prices settled down for a sixth straight session on Tuesday, their longest losing streak this year,…
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