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As oil hits $70, warning lights flash up in Asia

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices have risen above $70 per barrel for the first time since 2014 as investors bet supply cuts led by OPEC will dominate the market this year.But some traders are sounding a warning - the world's biggest crude consuming region, Asia, is showing signs of an impending downward correction.Prices for Brent crude oil futures, the international benchmark for oil prices, have risen by more than 50 percent since mid-2017 and hit $70 per barrel this week for the first since December 2014. Average Asian physical crude oil prices also moved over $70 per ...

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First Published: Fri, January 12 2018. 12:58 IST
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