Oil pares losses on tight supply but cloudy demand caps gains

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2024-11-13 06:08:08 -

https://finance.yahoo.com/news/oil-trims-losses-tight-near-025211155.html

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SINGAPORE (Reuters) -Oil prices edged up on Wednesday on signs of near-term supply tightness but remained near their lowest in two weeks, a day after OPEC downgraded its forecast for global oil demand growth in 2024 and 2025. Brent futures rose 17 cents, or 0.24%, to $72.06 a barrel by 0420 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 14 cents, or 0.21%, at $68.26. But falling demand projections and weakness in major consumer China continued to weigh on market sentiment.

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