* G20 puts growth before austerity, vows to tread carefully* Hedge fund bets on U.S. oil prices hit record level-CFTC* China frees up lending rates in major reform* Coming Up: U.S. existing home sales; 1400 GMT (Updates prices)By Manash GoswamiSINGAPORE, July 22 (Reuters) – U.S. oil...UPDATE 2-Oil above $108 on demand hopes, US oil at premium to Brent
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