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Oil turns lower in Asia, US crude stays below US$50

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Published Tue, Feb 24, 2015 · 09:50 PM

Singapore

OIL turned lower in Asia on Tuesday as a feeble rebound failed to take hold, with prices under pressure in an oversupplied market.

US benchmark West Texas Intermediate (WTI) for April delivery was down 29 US cents to US$49.16. Brent crude for April fell 17 US cents to US$58.73 in afternoon trade, reversing gains in the morning.

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