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Oil Up, but Eases from Five-Day Rally Over Profit Taking

26 days ago   |   By FXCM

By Gina Lee
Investing.com - Oil was up Tuesday morning in Asia but eased after a five-day rally. Investors took profits as fears that higher prices that could weaken fuel demand increased, even as market sentiment remained firm amid a tight supply globally.
Brent oil futures were up 0.28% to $78.94 by 10:27 PM ET and WTI futures were up 0.36% to $75.72. Both Brent and WTI futures remained above the $75 mark.
“Oil markets took a breather after a long rally, with some investors scooping up profits,” Fujitomi Securities Co Ltd analyst Toshitaka Tazawa told Reuters, amid concerns that surging...
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