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Crude Oil Flat After 2-year Highs

Crude oil futures were flat Tuesday, holding near the highest in more than two years amid turmoil in the Middle East.

Sectarian fighting in Iraq and intense political protest in Iran have raised concerns over supply disruptions from the region.

Still, traders took profits from a sudden run-up in oil prices to end the year.

Here in the US, a spate of ultra-cold weather may drive demand for heating oil and other energy products.

Feb. WTI oil fell 5 cents, or less than 0.1%, to settle at $60.37/bbl.

Overseas, the UK manufacturing activity grew strongly at the end of 2017, though the pace of expansion moderated slightly, data published by IHS Markit showed Tuesday.

The IHS Markit/Chartered Institute of Procurement & Supply factory Purchasing Managers' Index fell to 56.3 in December from November's 51-month high of 58.2.

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