Oil recover with stock markets, demand concerns weigh | Reuters:
Oil prices rose on Thursday alongside U.S. stock markets as Wall Street recovered from the worst meltdown since 2011 the previous day, allaying some fears that a slowdown in global economic growth would hit demand for oil.
Brent crude futures LCOc1 crude rose 80 cents to $76.78 per barrel at 11:36 a.m. EDT (1556 GMT) as U.S. equities rose amid strong corporate earnings. The global benchmark has lost around $10 a barrel since hitting a high of $86.74 on Oct. 3.
U.S. crude CLc1 rose to $67.36, up 54 cents.
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