Oil prices were volatile on Thursday. The OPEC said world oil glut was relieved in its report, but swelling U.S. crude stockpiles in the EIA report limited the rebound. The front-month in WTI rose 0.04 percent to $51.41 a barrel. The front-month in Brent crude futures closed down 0.07 percent to $54.21 a barrel. The spread between the two benchmarks stood at $2.80 a barrel.

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