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Oil Rises Alongside Equities, Shrugging Off Recession Fears

  • WTI crude futures rose to $112/bbl in a choppy session
  • Investors focus on demand after tighter US monetary policy
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Oil rose in a choppy trading session as equity markets pared losses, shrugging off concerns of an economic recession.

West Texas Intermediate settled near $112 a barrel after trading in a $7 range on Thursday. Earlier, investors shied away from equities after Federal Reserve officials reaffirmed much tighter monetary policy lies ahead to cool an overheating economy and tame inflation.