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Oil fell as traders awaited more concrete signs that the U.S. and China are resolving their trade dispute, and amid concerns that OPEC and its partners won’t deepen output curbs to prevent a glut.

Brazil’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petroleo Brasileiro SA did most of the bidding while other major oil companies stayed away.

Oil held its biggest gain in almost seven weeks after improved U.S. and Chinese economic data aided the demand outlook, while optimism increased that the U.S. and China will resolve their trade dispute.

RIYADH, Saudi Arabia — The long-planned initial public offering of a sliver of Saudi Arabia’s state-run oil giant Saudi Aramco will see shares traded on Riyadh’s stock exchange in December, a Saudi-owned satellite news channel reported Oct. 29 as the kingdom’s marquee investment forum got underway.

An auction next month of oil fields in Brazil may be the priciest ever held, raising at least $50 billion in licensing fees and compensation, according to people familiar with government estimates.

OKLAHOMA CITY — T. Boone Pickens, a brash and quotable oil tycoon who grew even wealthier through corporate takeover attempts, died Sept. 11. He was 91.

Iran is racing to return an oil supertanker to international waters after a Gibraltar court determined it couldn’t wait for the United States to take action that would prolong the six-week detention of the vessel for allegedly violating trade sanctions.

A prestigious scientific organization on Oct. 11 called for more frequent and better inspections of freight railroad tracks to prevent potentially catastrophic oil and ethanol train crashes.

Oil advanced to the highest level since May after U.S. gasoline stockpiles plunged to a 22-month low and exports of crude and fuels surged.

Oil dropped to the lowest in seven months amid a revival in output from Libya and rising volumes of fuel held in floating storage.