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Fake oil move on fake news

Oil prices cut some losses after falling more than $3 a barrel on Thursday after the White House called news that the US and Iran were moving closer to an oil export deal false. Oil fell sharply after a report citing two unnamed sources as saying Iran and the US were moving towards a temporary deal that would trade some sanctions relief for cuts in Iran's uranium enrichment. But the trade turned on skepticism that oil sanctions would be lifted quickly and after the White House said the report was false. Brent crude fell 97 cents, or 1.3%, to $75.98 a barrel by 13:35 ET (1737 GMT),...

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