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Oil Stays Below $50 as Recovery Hopes Wane

By GEORGE JAHN
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AP
posted: 327 DAYS 17 HOURS AGO
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VIENNA (April 23) - Oil prices rose but stayed well below $50 a barrel Thursday as rising U.S. crude inventories and a stark demand forecast by the IMF doused investor optimism for a near-term recovery from the global recession.
Copyright 2009 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
2009-04-23 08:31:02
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Oil prices rose but stayed well below $50 a barrel Thursday as rising U.S. crude inventories and a stark demand forecast by the IMF doused investor optimism for a near-term recovery from the global recession.