Reuters: Oil down but set for weekly gain amid caution over global economy

18:58, 11 January 2019
Economy
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Tightened supply following OPEC-led crude production cuts aided earlier 1 percent increases for both oil benchmarks, but concerns about the global economy kept markets in check, Reuters said.

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International Brent crude futures were at $60.55 per barrel at 1440 GMT, down $1.13, or 1.83 percent. U.S. West Texas Intermediate (WTI) crude futures fell 87 cents to $51.72 per barrel.

WTI and Brent are set for their second week of gains, rising nearly 8 percent and 6 percent respectively.

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