Oil prices fall on weak trade but China outlook offers support

oil prices dipped in early trade Monday, thinned by the Lunar New Year holiday in East Asia, but held on to most of last week’s gains as the prospect of an economic recovery reigned supreme oil Importer China this year.

Brent crude futures were down 46 cents, or 0.5 percent, to $87.17 at 0349 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 36 cents, or 0.4 percent, to $81.28 apiece barrels fell.

Last week, Brent was up 2.8 percent while the US benchmark was up 1.8 percent…

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