Oil Updates — Crude eases; UAE minister says OPEC+ voluntary cuts to stabilize market 

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Tue, 2023-05-09 15:36

RIYADH: Oil prices fell on Tuesday, relinquishing some of the strong gains of the previous two sessions with the market cautious ahead of US inflation figures, which will be key to the Federal Reserve’s next interest rate decision. 

The Brent crude price was down 64 cents, or 0.83 percent, at $76.37 at 2:00 p.m. Saudi time, while US West Texas Intermediate crude fell 65 cents, or 0.89 percent, to trade at $72.51.  

Both contracts had settled more than 2 percent higher in the previous trading session. 

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