Oil prices steadied on Friday from early losses, with traders citing potentially more bullish investor positioning for the second half of the year and after a weaker dollar that boosted most commodities.
The market also found some support after falling more than 3 per cent on Thursday as traders booked profits at the end of the best quarter in seven years.
Crude prices had jumped 25 per cent over the past three months.
U.S. West Texas Intermediate (WTI) crude was trading at $48.36, up 3 cents on the day.
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