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Oil Rises With Robust Economic Data Offsetting Virus Concerns Bloomberg 1 hr ago Andres Guerra Luz (Bloomberg) Oil rose the most in over a week alongside a broader market rally after positive economic data from the U.S. and Europe allayed some of the concerns around a rampant Covid-19 resurgence in countries such as India. Futures climbed as much as 1.6% in New York after flipping between small gains and losses earlier in the session. A composite gauge of output at U.S. manufacturers and service providers reached a record high in April, while the latest data showed robust manufacturing figures in Europe. The dollar weakened, boosting the appeal of commodities priced in the currency, while strengthening U.S. equities helped support prices.

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