Oil prices steady as Japan emerges from recession

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SINGAPORE  – Oil □□□□□□ □□□□ steady on Monday, with traders □□□□□□ the recent upward □□□□□□□□ was continuing as Japan □□□□□□□ from recession and after U.S. oil drilling fell. Japan’s economy rebounded from recession in the □□□□□ quarter, and although the data was □□□□□□ than expected, the return to growth of Asia’s second biggest □□□□□□□ and energy user lent oil support, analysts said. Benchmark Brent crude □□□□□□□ □□□□ trading at □□□□□□ per barrel at □□□□ GMT □□□□□ p.m. EST Sunday), virtually level with their □□□□ settlement. U.S. WTI crude □□□ also flat at □□□□□□ a barrel. Oil □□□□□□□ rose strongly □□□□ □□□□□□ after another □□□□ in the □□□□ rig count, pushing Brent back above □□□ a □□□□□□ for the □□□□□ □□□□ since □□□□□□□□ last year. In related news, Brent falls below □□□ as Japan enters recession.

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