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Oil rebounds, remains above $95 a barrel

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Oil prices staged a moderate rebound Friday, a day after their sharpest drop in more than seven months. By early afternoon in Europe, benchmark oil for August delivery was up 41 cents to $95.55 a barrel in electronic trading on the New York Mercantile Exchange. On Thursday, the expiring Nymex contract for July settlement sank $2.84, or 2.9 percent, to $95.40 a barrel. The sharp drop was...

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