Oil Prices Retreat from Short-covering Rebound

Maritime Activity Reports, Inc.

December 18, 2014

Global crude prices fell more than $1 a barrel on Thursday, retreating from a short-covering charged rally as traders bet the market had not shaken off a six-month long rout on oversupply concerns.
 
Traders also cited a Bloomberg report that a port workers' union in Nigeria had ended its strike, potentially allowing crude oil shipments to resume out of the country.
 
(Reporting By Barani Krishnan; Editing by Chizu Nomiyama)
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