Oil set for longest rally this year as oversupply concerns ease
The oil price looks set to experience its longest period of growth in six months. But oil prices in New York and London are still on track for a loss in June – a month in which prices typically gain.
BY GRANT SMITH & BEN SHARPLES, BLOOMBERG
Oil headed for the longest run of gains in six months as a drop in US crude production and gasoline stockpiles eased concern that OPEC-led supply curbs were proving ineffective.
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