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Oil markets cautious as OPEC cuts are met by rising U.S. output

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil markets were treading water on Tuesday, continuing the cautious trading seen over the last week as bullish factors such as ongoing OPEC-led production cuts and Middle East tensions are countered by rising U.S. output.Brent crude futures were at $63.13 per barrel at 0157 GMT, down 3 cents from their last close. U.S. West Texas Intermediate (WTI) crude was at $56.73 per barrel, also down 3 cents.The dips came after both crude benchmarks early last week hit highs last seen in 2015, but traders said the market had lost some momentum since then."Oil is ...

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First Published: Tue, November 14 2017. 08:43 IST