Oil Prices Hold on ''Resilient'' Market

April 18, 2015 2:34 PM

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LONDON--Oil prices have shuffled between gains and losses Friday, with traders divided about a glut of crude world- wide and a series of economic factors and production cutbacks that bode well for a recovery.

Several banks and analysts are warning a recent winning streak is vulnerable to a pullback because of strong global production. But many traders are still banking on a retreating dollar, war in the Middle East and a recent sputter in U.S. production keeping prices close to recent multiweek highs.

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