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Oil prices edge down as Russia lifts supplies, jet fuel demand stirs caution

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Oil prices edged down early on Tuesday after gaining in the previous trading session, due in part to the prospect of rising supply from Russia as well as the...

FILE PHOTO: Oil rig pumpjacks extract crude from the Wilmington Field oil deposits area where Tidelands Oil Production Company operates near Long Beach, California

Both benchmarks reached four-month highs in the previous session, buoyed by lower crude exports from Saudi Arabia and Iraq and signs of stronger demand and economic growth in China and the U.S. Meanwhile, five sessions of gain in the U.S. dollar also kept a lid on oil's uptrend, with the greenback almost at a two-week high against major peers.On the demand side, analysts were slightly cautious on demand growth coming from the jet fuel sector ahead of the summer travelling season in the third quarter of the year.

 

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