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Global oil prices dip as Middle East supply disruption concerns ease

Global oil prices dropped more than $1 a barrel on Tuesday, as traders took profits after Monday’s surge, which had pushed prices to their highest level in over a month. The earlier rally was fuelled by concerns that tensions in the Middle East could escalate into a wider conflict, potentially disrupting the region’s oil supply. Brent crude futures slipped by $1.31, or 1.6 per cent, to $79.62 a barrel by 0600 GMT. Similarly, US West Texas Intermediate (WTI) futures fell $1.29, or 1.7 p
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