Brent oil stalls as market weighs supply disruption, recession fear

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Reuters UK

By Florence Tan SINGAPORE (Reuters) -Brent oil prices were little changed on Tuesday, reversing earlier gains of $1, as investors weighted supply concerns, highlighted by a potential production cut in Norway, and worries about a possible global recession curtailing fuel demand. Brent crude futures for September settlement edged up 0.2%, or 22 cents, to $113.73 a barrel by 0432 GMT. U.S. West Texas Intermediate crude climbed $1.95, or 1.8%, to $110.38 a barrel, from Friday’s close. There was no settlement for WTI on Monday because of the Independence Day public holiday in the United States. “Wh…

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