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Oil hovers near $87 on renewed economic hopes

Oil prices hovered near $87 a barrel Thursday, after a sharp rally the day before was powered by strong economic data from the U.S. and China. By early afternoon in Europe, benchmark oil for January delivery was down 10 cents to $86.65 a barrel in electronic trading on the New York Mercantile Exchange. The contract… Continue Reading Oil hovers near $87 on renewed economic hopes