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Oil futures slide as market unconvinced about producers' output freeze plan - despite Iraq signalling willingness to talk.
Brent and WTI futures shed overnight gains as market continues to lose faith in producers' talks.
Lifting of force majeure at Libyan oil terminals and even more Nigerian output weighed on crude markets..
Short-covering and a relatively weaker dollar ensure metal, energy futures register gains in US and Asia.
Crude futures continued to falter as Opec's monthly report pointed to rising global oil supplies
Renewed speculation that US Federal Reserve might raise interest rates in September dragged oil and precious metal future lower.
Data pointing to the biggest decline in US crude inventories in 17 years sent Brent within touching distance of $50 per barrel
American Petroleum Institute data pointing to a massive dip in US inventories send crude futures higher.
Analysts continue to doubt prospects for an oil production freeze while precious metals market takes a breather.
Precious metals rise on weaker dollar, while oil futures see mixed trading on Saudi-Russian agreement.
Futures rose by 1.5% after two of the world's leading producers agree to try to stabilise global supply.
Oil futures recover on comments from Russian President Vladimir Putin, as BP CEO Bob Dudley reveals oil price expectations.
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Saudi Arabia sought to reassure the oil market while a stronger dollar dragged crude and precious metal futures lower.
Oil production freeze chatter continues to support crude prices while a stronger dollar dents precious metals market.