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Oil Facing Pressure as US Rig Count Keeps Rising -- Market Talk

6 Mar 2017 1:23 am

0123 GMT - Oil prices start the week lower in Asia after strength Friday in the US. The pullback comes amid further gains in the US oil-rig count and prospect of a March interest-rate hike, but Vivek Dhar, a commodities strategist at Commonwealth Bank of Australia, adds intensifying conflicts in Libya and China's 6.5% GDP forecast for 2017 may provide a price floor. April WTI is down 17 cents at $53.16/barrel and May Brent is off 12 cents at $55.79. (jenny.hsu@wsj.com)

(END) Dow Jones Newswires

March 05, 2017 20:23 ET (01:23 GMT)

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