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Oil prices dampened losses in post-settlement trading on Wednesday, after reports that Saudi Arabia was considering options to halt crude decline, traders said.
Brent and US crude closed the session down 4.5% to 56.23 and 51.09 dollars per barrel, respectively.
Later, both indices rose more than a dollar, with Brent trading at $ 57.43 a barrel and US crude at $ 52.36 a barrel.
Traders attributed the recovery to reports that the Saudi authorities were considering all possible solutions to stem the drop in oil prices, and said the decline was due to fears of a slowdown in the economy rather than a decline in oil prices. Excess supply of crude.
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