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Oil prices seesaw on supply v demand forecasts

ASIA-Pacific oil prices slid below $US74 a barrel this week as traders shrugged off suggestions OPEC was unlikely to boost production and a report was released outlining a possible oil crunch.

Francine Pennington

Oil prices seesaw on supply v demand forecasts

But yesterday, Singapore’s Tapis price surged about $1.70/bbl, while New York’s West Texas Intermediate also added $1.50 to close at $67.62/bbl. In its monthly oil market report, the International Energy...

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