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Oil prices edge lower as COVID-19 lockdown concerns overshadow demand prospects

By Reuters | 5yrs ago

Oil prices slipped for a second straight session on Monday as renewed COVID-19 lockdowns raised fresh concerns about global fuel demand.

A crude oil tanker is seen at Qingdao Port, Shandong province, China, April 21, 2019. [Reuters]

Brent crude futures for March fell 8 cents, or 0.1 per cent, to USD55.38 a barrel by 0717 GMT, while U.S. West Texas Intermediate crude for March was at USD52.26 a barrel, down 1 cent.

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