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- WTI traded in a tight range
WTI traded in a tight range
Crude oil prices remained lower extending recent losses after OPEC and Russia failed to make concrete plans to curb production.
Rttnews says that Iran has reportedly nixed plans for a meaningful reduction in output after years of crippling sanctions.
Meanwhile, economic concerns and political uncertainty in the U.S. have markets in a cautious mood.
WTI light sweet crude oil was down 20 cents at $46.70 a barrel, the lowest in a month.
The American Petroleum Institute is out with its U.S. oil inventories survey this afternoon, while the government report is scheduled for tomorrow.
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