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Oil prices fell on Tuesday after US President Donald Trump said military action against Iran was unnecessary “at this stage,” easing fears of a prolonged disruption to Middle Eastern supplies. Brent fell 0.23% to $92.33 a barrel, while West Texas Intermediate dropped 0.40% to $86.50, before falling further to $91.56 and $85.79, respectively. Brent had declined 5.85% in the previous session. A Reuters survey indicated that OPEC production rose in October, driven by increased output in Saudi Arabia, Kuwait and Iraq.
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