Oil prices dip on signs of economic slowdown, but OPEC-led cuts provide support [Reuters]
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Source: Reuters
Oil prices dip on signs of economic slowdown, but OPEC-led cuts provide support | Reuters 3 Min Read SYDNEY/SINGAPORE (Reuters) - Oil prices dipped on Wednesday on increasing signs of a global economic slowdown, although OPEC-led supply cuts helped support Brent crude above $60 per barrel. International Brent crude oil futures LCOc1 were at $60.46 per barrel at 0146 GMT, down 18 cents, or 0.3 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.4 percent, at $51.88 a barrel. Prices were weighed down as signs of a global economic slowdown mounted. In Japan, core machinery orders slowed sharply in November in a sign corporate capital expenditure could lose momentum as a bruising U.S.-China trade war spills into the global economy. Adding to the trade woes, the U.S. economy is taking a larger-than-expected hit from a partial government shutdown, White House estimates showed on Tuesday, as contractors and even the Coast Guard go wit
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