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Oil prices retreat on profit-taking

Xinhua, May 27, 2016 Adjust font size:

Oil prices inched down Thursday as traders were looking for excuses to lock in gains after recent rallies.

The West Texas Intermediate for July delivery fell 8 cents to settle at 49.48 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery decreased 15 cents to close at 49.59 dollars a barrel on the London ICE Futures Exchange. Endit