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A tentative rebound in crude oil prices on Thursday is in now flux, with both major benchmarks having given up some of their earlier intraday gains.
Brent crude was up 0.4 per cent at $53.12 a barrel after rising as much as 0.8 per cent. The international marker had dropped 3.6 per cent the previous day on news of a rise in US gasoline stockpiles.
West Texas Intermediate was up 0.2 per cent at $50.55, walking back gains of as much as 0.7 per cent. The US marker closed down 3.8 per cent on Wednesday.