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Oil steady after technical resistance stalled blistering rally

Oil prices settle at a more stable level after taking the biggest slump in eight weeks.
Photo: Todd Korol/Reuters/Ritzau Scanpix
Photo: Todd Korol/Reuters/Ritzau Scanpix
By Rob Verdonck and Sharon Cho, bloomberg news

Oil steadied after dropping the most in eight weeks on technical resistance and speculation Saudi Arabia will start restoring output if prices get too high. 

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