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Oil prices ease as demand worries counter supply cuts

The Organization of the Petroleum Exporting Countries (OPEC) agreed on Monday to extend oil supply cuts until March 2020

Reuters  |  SINGAPORE 

 Oil prices drifted lower on Tuesday, as weak global data raised concerns about future demand for the commodity despite a positive boost from OPEC's decision to extend supply cuts until next March. Brent crude futures for September delivery were trading down 15 cents, or 0.2%, at $64.91 a barrel by 0311 GMT after dipping to $64.66 earlier. Brent climbed more than $2 a barrel on Monday before paring gains later in the day. U.S. crude futures for August were down 25 cents, or 0.4%, at $58.84 a barrel, after touching their highest in over five weeks on Monday. "After ...

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First Published: Tue, July 02 2019. 09:22 IST