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Oil Prices Ease As Mixed China Trade Data Offset Supply Cuts

Published by: dailynews
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Oil prices eased on Tuesday, giving up most of Monday’s gains as mixed economic data from the world’s second largest oil consumer China and winter demand worries offset the impact of Saudi Arabia and Russia extending output cuts.

Brent crude futures slipped 47 cents, or 0.55%, to $84.71 a barrel by 0431 GMT while U.S. West Texas Intermediate crude was at $80.45 a barrel, down 37 cents, or 0.46%.

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