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Oil swings as traders grapple with recession concerns

Oil prices fluctuate due to investor concerns over a global economic slowdown and eroding demand.

Photo: Nick Oxford/Reuters/Ritzau Scanpix

Oil fluctuated as investors weighed concerns that a global slowdown will erode demand against still-solid physical market signals.

West Texas Intermediate rose toward USD 109 a barrel after dropping more than 1% earlier in the session. Trading volumes will likely be weaker than usual on Monday given the holiday in the US for the Fourth of July break.

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