Economic news

Oil slips as China’s October crude imports drops sharply

Oil prices dropped on Wednesday as China's crude imports edged down to their trough in a year, although investors said the overall market is still benefits from OPEC-led supply cuts.

Brent futures were down 0.4 percent at $63.43 per barrel. The fall came after Brent rose to an over two-year peak of $64.65 earlier this week.

U.S. West Texas Intermediate (WTI) crude dipped 0.5 percent to $56.90 per barrel. WTI also scaled its top in over two years earlier this week, at $57.69.

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