Oil climbs for third day on signs of slowing US shale boom

Source: Bloomberg
© Scanpix/FP
Oil continued its gain on speculation of slowing US shale boom that could reduce global glut, which has driven prices to the weakest in more than five years. Oil futures added 1.7% in New York, cooling a seventh weekly drop, and WTI crude for February settlement rose 82% to $49.61 a barrel and traded at $49.05 in Singapore.

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