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Oil Edges Higher With U.S. Outlook Sustaining Price Breakout

  • WTI little changed Thursday, but extends move above range
  • U.S. economic data further highlights accelerating recovery
Gazprom PJSC Oil Operations in Serbia as Oil Bounces After Plunging to $10
Photographer: Oliver Bunic/Bloomberg
Updated on

Oil extended its climb out of a month-long trading range with further signs of an accelerating rebound taking shape in the U.S.

Futures in New York inched up alongside a broader market rally, wiht prices trading at a one-month high. U.S. jobless claims fell to a new pandemic-era low, while retail sales in the country accelerated by the most in 10 months -- providing the latest signs of the economic comeback gaining pace there.