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Oil Trading in Sweet Spot Adds to Improving Economic Signals – The Wall Street Journal

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Oil prices have stayed in a contained range that analysts say benefits both producers and consumers, bolstering hopes that the global economy can rebound.

U.S. crude has generally stayed between $50 and $60 a barrel in the past six months and is on pace for its best year since 2016 following a sharp selloff late in 2018. Brent, the global gauge of prices, has also been steady and traded between $55 and $65.

Because…