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RIYADH: Oil costs fell on Tuesday because the market digested weak financial knowledge from China and braced itself for one more US rate of interest hike.
Brent crude fell by $0.26 to $79.05 a barrel at 11:50 a.m. Saudi time, whereas US West Texas Intermediate crude dropped $0.33 to $75.33. Each benchmarks fell by greater than $1 final session.
China’s manufacturing exercise unexpectedly fell in April, the primary contraction since December within the manufacturing buying managers’ index.
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