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Home » Oil up on expected U.S. oil stock drawdown, but China gloom tempers gain

Oil up on expected U.S. oil stock drawdown, but China gloom tempers gain

    Oil prices were up in early trade on Tuesday ahead of data later expected to show a draw in U.S. crude oil and gasoline inventories, though persistent concerns over a slowdown in China's economy limited the upside. Brent crude was up 10 cents at $84.56 a barrel and U.S. West Texas Intermediate crude was trading 9 cents higher at $80.81 a barrel at 0101 GMT. U.S. crude oil and gasoline inventories were expected to have fallen last week, a preliminary Reuters poll showed, as the American Petroleum Institute industry group is due to release data later on Tuesday.

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