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Oil dips as commodity rally gathers breath

March 22, 2016

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Oil prices dipped in Asian trade on Tuesday, giving up gains from the previous session after data showed U.S. crude inventories fell for the first time since January and as commodity prices paused from their recent rally.

There was no immediate impact on the market from a series of explosionsin Brussels, though gold rose and the euro weakened on the news.

U.S. crude futures for May, the front month from Tuesday, were down 17 cents at $41.35 a barrel at 0840 GMT, after settling up 0.8 percent at $41.52 on Monday.

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