Oil edges back from 6 percent fall, but outlook weak

April 9, 2015 3:08 AM

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Oil edges back from 6 percent fall, but outlook weak

SINGAPORE (Reuters) - Oil prices rose more than a percent on Thursday, clawing back a part of the 6 percent slump in the previous session that was triggered by a shock jump in U.S. crude inventories and record Saudi output, although analysts said sentiment remained bearish.

A 10.95 million-barrel surge in U.S. crude stockpiles to 482.4 million last week, the biggest gain in 14 years, and Saudi oil production of 10.3 million barrels a day in March had battered crude futures on Wednesday.

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