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Oil prices up in Asian trade

SINGAPORE CITY: Oil edged higher to near $42 a barrel in Asia Monday but analysts said the increase was unlikely to last as the commodity remains under pressure by a supply glut and a strong dollar.

IEA says worst may be over for oil price

PARIS: The oil price may have finally bottomed out after an unprecedented drop over the past 18 months, the International Energy Agency (IEA) said Friday, noting oil's "remarkable recovery" over recent weeks.