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Stay calm and don’t buy oil: Julius Baer

Oil prices continue to surge following two consecutive 4% increases, but Julius Baer is cautioning investors against riding the wave, for fear that disruptions in supply-demand rebalancing will be short-lived. Brent crude exceeded US$48 per barrel after yesterday’s closing, a 2016-high for the troubled energy commodity. The price rise occurred after US data indicated large declines in both domestic oil…

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