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European markets up, oil less than 50 dollars a barrel

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European markets up, oil less than 50 dollars a barrel

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Oil recovered slightly in Wednesday’s trading, but is still below 50 dollars a barrel. However, analysts believe any further gains will be weak as US demand for fuel continues to fall. Oil has now dropped 100 dollars from its record 147 dollars a barrel in July. Other commodity related stocks turned positive, but still remain in the red. European stocks rallied in late trading. The FTSE was up slightly, after big drops earlier in the day.