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U.S. shale

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Oil above $59 on Middle East, U.S. output, but IEA report caps gains

Brent crude oil prices rose above $59 a barrel on Wednesday amid tension in the Middle East and signs of a dip in U.S. production, but gains were capped by a report from the International Energy Agency (IEA) indicating that supplies would take longer to tighten than previously expected.

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Workers' Strike

Workers strike for second day at nine U.S. oil, chemical plants

Union workers were on strike for a second day on Monday at nine U.S. refineries and chemical plants in an attempt to force oil companies to sign a new national contract covering laborers at 63 plants.

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Gas station

Oil dives anew, falling 5 percent on Goldman downgrade, outages

Oil fell 5 percent to its lowest in nearly six years on Monday, extending the second-deepest rout on record, after Goldman Sachs warned that prices would fall further and Gulf oil producers showed no sign of cutting output.

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Crude Oil

Oil drops $2 to five-year low on oversupply

Brent and U.S. crude oil each fell more than $2 a barrel on Monday to a new five-year low amid a rising number of predictions that oversupply would extend well into 2015.

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Oil well

Oil jumps as much as five percent from five-year low; focus on shale

Crude oil markets jumped as much as 5 percent on Monday, rebounding from five-year lows with their biggest daily gain since 2012, on fears that the high U.S. shale output blamed for the global oil glut may be shrinking.

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