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Oil prices edge lower as market settles into range

Reuters  |  TOKYO 

By Aaron SheldrickTOKYO (Reuters) - Oil futures inched down on Thursday despite official figures showing U.S. crude inventories fell more than expected, with an analyst saying the market had settled into a range.Brent crude, the global benchmark, was down 4 cents, or 0.1 percent, at $52.66 at around 0232 GMT, after earlier trading as high as $52.80. It closed up 1.1 percent on Wednesday, snapping two days of declines.U.S. West Texas Intermediate (WTI) crude was down 3 cents at $49.52, after rising to $49.69 earlier. The contract gained 0.8 percent in the previous session."We have settled into ...

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First Published: Thu, August 10 2017. 08:52 IST