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September, 27, 2016

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Oil prices rise slightly in the wake of decline in United States jobless claims

BANGKOK--The price of oil rose slightly Friday after a big fall in U.S. unemployment benefit claims suggested some improvement in the world's biggest economy, raising expectations for increased demand for energy.

Benchmark oil for November delivery was up 2 cents to US$92.09 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract gained 82 cents to close at US$92.07 per barrel in New York on Thursday.

Brent crude, which is used to price international varieties of oil, fell 75 cents to US$113.93 on the ICE Futures Exchange in London.

In other energy trading on the New York Mercantile Exchange:

— Heating oil fell 2.4 cents to US$3.233 per gallon.

— Wholesale gasoline fell 4.5 cents to US$2.911 per gallon.

— Natural gas fell 1.2 cents to US$3.592 per 1,000 cubic feet.

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