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After settling for a second straight day below $60, light crude was moving upward on Tuesday.
Benchmark crude for delivery in August rose 87 cents to $60.56 a barrel in electronic trading on the New York Mercantile Exchange. The contract dropped 20 cents on Monday to settle at $59.69.
The price of a barrel of crude fell on Monday despite an uptick in the markets and a weakening dollar. But reports Tuesday about economic growth in Asia have fueled the small crude rebound, with particular hopes about a Chinese economic rebound leading the way. ...
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