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Oil heads for weekly loss as slowdown worries outweigh supply cuts

Reuters  |  LONDON 

By Shadia NasrallaLONDON (Reuters) - Oil markets inched down on Friday and were heading for a weekly loss, pulled down by worries about a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support. Weighing on financial markets were concerns that a trade dispute between the United States and China would remain unresolved, denting global economic prospects. International Brent crude futures were down 14 cents at $61.49 per barrel at 0855 GMT. On the week, they are set for a loss of around 2 percent, the steepest weekly fall ...

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First Published: Fri, February 08 2019. 14:50 IST
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