Oil edges up on smaller US output growth estimates

Brent crude futures rose 38 cents, or 0.5%, to $78.97 a barrel as of 0013 GMT, while U.S. West Texas Intermediate crude climbed 41 cents, or 0.6%, to $73.72. Both contracts had gained slightly on Monday.

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Dollar jumps after strong US payrolls report

The US dollar index jumped significantly following the Labor Department’s report indicating an increase of 165,000 jobs last month, which far exceeded economists’ forecasts. As