OIL PRICE: NEAR $60
REUTERS - Oil prices rose nearly 3% on Wednesday, boosted by a wider market pickup on positive news from China's services sector, after three days of losses due to fears about a weakening global economy.
Brent crude LCOc1 was up $1.55, or 2.66%, at $59.81 a barrel by 1401 GMT, while U.S. West Texas Intermediate futures CLc1 gained $1.56, or 2.66%, to $55.50 a barrel.
Global markets rebounded after a private survey showed that activity in China's services sector expanded at the fastest pace in three months in August as new orders rose, prompting the…
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