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Oil rises with short-term demand support

Oil rose on Tuesday in support of strong demand forecasts in the coming weeks, but overall market conditions remain weak as fuel supply continues to cloud, prompting a number of banks to lower their price forecasts. By 0545 GMT, the…

Iraq slashes Basrah light price for Asia

Iraq's official oil marketing company (SOMO) said on Monday that Iraq has cut the official sale price for August shipments of Basra light crude to Asia to $ 0.10 compared to the previous month to less than $ 0.65 a barrel from the average…