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Oil prices slip on signs of soft US, China demand

Published on Feb 21, 2014 6:13 AM
 
Global oil prices slipped on Feb 20, 2012 as US distillate stocks fell less than expected despite severe winter weather and weak manufacturing data dented demand expectations in China. -- FILE PHOTO: AFP

NEW YORK (AFP) - Global oil prices slipped on Thursday as US distillate stocks fell less than expected despite severe winter weather and weak manufacturing data dented demand expectations in China.

The main US futures contract, West Texas Intermediate (WTI) for March, closed at US$102.92 (S$130.27) a barrel, down 39 cents from Wednesday on the New York Mercantile Exchange.

Brent North Sea crude for delivery in April, shed 17 cents to settle at US$110.30 a barrel in London trade.

The US Department of Energy's weekly oil inventories report was "slightly bearish," said John Kilduff of Again Capital.

 
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