Oil prices rebound after drop in US rig count, Energy & Commodities - THE BUSINESS TIMES: "OCT 3, 20156:55 AM
[NEW YORK] Oil prices reversed losses Friday after a tumble in US drilling raised hopes of lower production to ease the global oversupply, outweighing a badly disappointing US jobs report.
US benchmark West Texas Intermediate for delivery in November delivery rose 80 cents to US$45.54 a barrel on the New York Mercantile Exchange.
Brent North Sea crude for November, the global benchmark, closed at US$48.13 a barrel in London, up 44 cents from Thursday's settlement.
Oil prices had not benefited earlier from the drop in the dollar after an unexpectedly bleak US September jobs report."
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