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Oil Steady as Market Waits for US Response to Deadly Attack
Oil was steady as the market waited for a US response to the deadly attack on American troops in Jordan, which could risk an escalation of tensions in a region key to global crude production. West Texas Intermediate was close to $77 a barrel in early Asian trading after losing 1.6% on Monday, despite the drone assault on US soldiers, which Iran sought to distance itself from. Brent crude also closed lower near $82. Data showing that OPEC+ appears to be making a slow start to its latest output cuts put downward pressure on prices. The White House is seeking a response that’s tough enough to deter Iran and its ... (full story)