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Oil prices steady after slump on Brexit, supply risks

July 6, 2016

Oil prices were up slightly in early Asian trading on Wednesday after sharp falls in the prior session, but gains were limited by ongoing concerns about the economic impact of Britain’s vote to leave the European Union and a glut of crude.

U.S. crude was up 13 cents $46.73 a barrel at 00-17 GMT. The contract fell 5 percent to end at $46.60 on Tuesday as U.S. investors got to digest news of an OPEC increase in production after the July 4 holiday on Monday closed trading.

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