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Oil prices jump as Colonial Pipeline restarts operation; pandemic concerns cap gains
On Friday, both US and UK crude oil futures’ prices feathered higher, paring some of their steeper plunges a session earlier, as global equity markets bolstered and American currency slipped following reveal of a pause in US retail sales in April that partially de-escalated inflation jitters, though gains in both contracts were largely curbed amid a second wave of pandemic outbreak in some part of the world, however, daily pandemic cases in India had reported a decline along with Iran and Japan, spurring up hopes that the latest wave of outbreak had reached a phase of plateau. If truth is to be told, in the day’s ... (full story)