Oil prices fall but remain buoyed by China outlook

MELBOURNE: oil Prices fell in early trade Monday, thinned by the Lunar New Year holiday in East Asia, but held on to most of last week’s gains on prospects of an economic recovery in key oil importer China this year.

Brent crude futures were down 46 cents, or 0.5 percent, to $87.17 at 0031 GMT, while US West Texas Intermediate (WTI) crude futures were down 40 cents, also down 0.5 percent, to 81, $24 a barrel fell.

Last week, Brent rose 2.8 percent while the US benchmark returned a 1.8…

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