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Oil falls for a third day, knocked by rising U.S. output

Reuters  |  LONDON 

By Amanda CooperLONDON (Reuters) - Oil prices eased for a third day on Tuesday as traders and investors questioned how much the prospect of further rises in U.S. output might overshadow some of the optimism that OPEC-led production cuts would tighten the balance between crude supply and demand.Brent crude futures were last down 34 cents on the day at $62.82 a barrel at 1212 GMT, while U.S. West Texas Intermediate (WTI) futures fell 27 cents to $56.49.Both benchmarks early in the previous week hit highs last seen in 2015, but traders said the market had lost some momentum since then.Traders ...

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First Published: Tue, November 14 2017. 17:58 IST
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