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Oil prices decline on profit-taking

Xinhua,March 28, 2018 Adjust font size:

NEW YORK, March 27 (Xinhua) -- Oil prices ended slightly lower on Tuesday as investors took profit from recent gains.

The West Texas Intermediate (WTI) for May delivery decreased 30 U.S. cents to settle at 65.25 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery lost 0.01 dollar to close at 70.11 dollars a barrel on the London ICE Futures Exchange.

Last week, Brent and WTI oil prices rose 6.4 percent and 5.7 percent, respectively, the strongest weekly gains since July.

Analysts said oil prices were under pressure on Tuesday as investors cashed some profits from the rally. Enditem

 

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