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Oil prices dip as traders assess U.S. hurricane impact

Reuters  |  SEOUL 

By Jane ChungSEOUL (Reuters) - Oil prices edged down on Tuesday, as traders weighed up the dampening effect on demand of Hurricane Irma versus refinery restarts in the wake of Hurricane Harvey that should lead to more crude oil processing.International benchmark Brent crude was down 14 cents, or 0.3 percent, at $53.70 per barrel by 0530 GMT from the previous close.U.S. West Texas Intermediate (WTI) crude was down 12 cents, or 0.3 percent, at $47.95 a barrel. U.S. refineries, including the largest U.S. refinery Motiva Enterprises, have started to come back online. Motiva restarted production ...

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First Published: Tue, September 12 2017. 11:28 IST
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