Oil prices fell on Wednesday on disappointing economic data from China and a ris...
TOKYO/SINGAPORE - Oil prices fell on Wednesday on disappointing economic data from China and a rise in U.S. crude inventories, erasing some of the sharp gains in the previous session after the U.S. said it would delay tariffs on some Chinese products, easing trade tensions.
U.S. oil was down 62 cents, or 1.1%, at $56.48 a barrel, having risen 4% the previous session, the most in just over a month. Benchmark crude prices surged on Tuesday after U.S. President Donald Trump backed off his Sept. 1 deadline for 10% tariffs on some products affecting about half of the $300 billion target list of Chinese goods.
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