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Oil prices extend gains on short-covering

Xinhua, August 5, 2016 Adjust font size:

Oil prices reversed early losses to end sharply higher Thursday, as traders believed that the slide into a bear market was overdone.

The West Texas Intermediate for September delivery rose 1.10 U.S. dollars to settle at 41.93 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery added 1.19 dollars to close at 44.29 dollars a barrel on the London ICE Futures Exchange. Endit