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Oil futures pulled back in Tuesday dealings, after posting a gain of more than 5% in the previous session, as fears of a slowdown in economic growth outweighed ongoing worries over tight crude supplies.
Price action
Market drivers
Oil rebounded sharply on Monday, with support tied in part to indications President Joe Biden’s visit late last week to Saudi Arabia failed to produce any breakthroughs in terms of increased oil production. While Biden had said he expected “further steps” by the Saudis on oil supply…
