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MARKET: Brent for August rises to approach $62/bbl

Light, sweet oil for July climbed modestly on the New York market to settle above $53/bbl June 4 while the Brent contract for August also gained to settle at nearly $62/bbl in London. Oil prices, along with other stocks and commodities, have been pressured downward recently by rising concerns that the world economy is slowing, which some analysts attribute at least in part to ongoing US-China trade tensions.

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