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Brent crude oil climbed to around $108 a barrel Friday, extending sharp gains on heightened geopolitical risk after the downing of a Malaysian jetliner over eastern Ukraine and as Israeli ground troops advanced into Gaza.Oil prices on both sides of the Atlantic surged about 2 percent Thursday, partly reversing three weeks of falls.Brent and U.S. crude were also supported by data from the United States and China indicating improving demand in the world's top two oil consumers.Data from China showed slightly stronger-than-expected second-quarter growth of 7.5 percent and higher oil demand, while a report from the United States showed a larger-than-expected draw in crude stocks of 7.5 million barrels last week.The country is producing around 555,000 barrels per day of oil, a spokesman for Libya's National Oil Corp. said.
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