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Oil prices rebound despite rising U.S. rigs

Xinhua, April 28, 2017 Adjust font size:

Oil prices rallied Friday even though U.S. rig counts continued to increase in the week.

The West Texas Intermediate for June delivery added 0.36 U.S. dollar to settle at 49.33 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery gained 0.29 dollar to close at 51.73 dollars a barrel on the London ICE Futures Exchange. Endit