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Oil Prices Remain Mixed Ahead Of Inventory Data

Oil prices were mixed throughout Tuesday as investors awaited inventory data due later in the day for direction.

Brent crude prices pulled back from 2019 highs on concerns that slowing economic growth in the U.S., China and Europe may dent fuel demand this year.

U.S. crude futures were moving higher on optimism surrounding OPEC-led production cuts and the U.S. sanctions against exporters Iran and Venezuela.

Global benchmark Brent crude eased two cents or 0.03 percent to $66.48 per barrel, recovering from an early drop to $66.17 per barrel. It remains near the 2019 high of $66.83 a barrel hit in the previous session.

U.S. West Texas Intermediate (WTI) crude futures were up 66 cents or 1.18 percent at $56.45 per barrel.

The immediate focus now remains on the U.S. weekly crude supplies data due later in the day.

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