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Oil prices dipped on Thursday as traders took stock of weak fundamentals in the market.
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Oil fell on Wednesday after commodities gained overnight on gold's record-breaking price surge.
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Oil rose on Tuesday, suppported by signs of good growth in the US manufacturing sector.
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Oil was up on Monday but investors remained cautious over the outlook for energy demand.
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Oil prices surged on Friday on news the US has emerged from a long and painful recession.
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Oil on Thursday was hit by a surprise rise in US petrol stocks that weighed on sentiment.