SEOUL: Oil held gains above US$58 a barrel as trading resumed following the Christmas holiday and after US explorers refrained from adding rigs for a second week.
Futures were little changed in New York after gaining 2% last week. The number of US rigs targeting oil remained unchanged at 747, Baker Hughes data showed on Friday. A repair of the North Sea’s Forties Pipeline System is complete and pressure testing has started, operator Ineos Group said on Monday.
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