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The commodity temporarily rebounded Wednesday after a bullish inventory report from the U.S. Energy Information Administration, but has been unable to maintain momentum ahead of an OPEC meeting in May.
The deal would mark China's first substantial energy investment in the South Asian country.
HSBC will advise on Saudi Aramco's multi-billion dollar IPO, according to media reports Monday, potentially increasing chances London could earn a piece of the world's biggest stock listing.
Full-steam ahead for earnings season in the coming week as a range of industry leaders across a swath of sectors release their recent quarterly performances.