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Oil prices were higher in European trading on Tuesday, rising for the first time in seven sessions as investors returned to the market to seek cheap valuations after futures fell to the lowest level in four weeks amid signs of further gains in U.S. crude output.

The U.S. West Texas Intermediate crude June contract rose 13 cents, or around 0.3%, to $49.36 a barrel by 4:45AM ET (08:45GMT).

The U.S. benchmark settled lower for the sixth session in a row on Monday after hitting its weakest level since March 29 at $49.03.

 

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