12-07-2016 20:11 via uk.news.yahoo.com

Oil jumps 4 percent in technical rebound from two-month lows

By Barani Krishnan NEW YORK (Reuters) - Oil prices surged 4 percent on Tuesday, buoyed by investors covering short positions and an equities rally that lifted riskier assets globally, helping crude stage a technical rebound from two-month lows hit the previous session. Crude futures also got a lift from expectations that data would show an eighth straight week of declines in U.S. crude stockpiles. "The market's gotten really short over the past two weeks with everyone focused on weaker fundament
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