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Brent crude rises over $1, but set for first yearly drop since 2015

Updated : December 31, 2018 07:19 PM IST

Hints of progress on a possible US-China trade deal, with US President Donald Trump saying he had a "very good call" with Chinese President Xi Jinping, helped bolster sentiment for oil.
For most of 2018, oil prices were on the rise, driven up by healthy demand and supply concerns, especially around the impact of renewed US sanctions against major producer Iran, which were introduced in early November.
Brent crude rises over $1, but set for first yearly drop since 2015
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