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Oil prices dip on relentless rise in U.S. crude output

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices dipped on Tuesday, extending losses from the previous session, as the inexorable rise in U.S. crude output weighed on markets. U.S. West Texas Intermediate (WTI) crude futures were at $61.18 a barrel at 0747 GMT, down 18 cents, or 0.3 percent, from their previous close. Brent crude futures were at $64.77 per barrel, down 18 cents, or 0.3 percent. Both crude benchmarks dropped by around 1 percent in their Monday sessions."Oil prices fell on the back of concerns that surging U.S. production ... could push inventories in the U.S. higher," ANZ ...

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First Published: Tue, March 13 2018. 13:21 IST
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