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Oil hits US$85 for first time since October as market tightens

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U.S. crude futures hit US$85 a barrel in New York for the first time since October, as OPEC+ supply cuts underpin a steadily strengthening market.

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Oil market news: oil rises to highest since October on signs of stronger demandOil rose on signs of better-than-expected demand, while algorithms that have reached their maximum long positions kept the rally in check.
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