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Oil Prices Edge Lower As Rebound In Libyan Production Weighs
Oil prices edged lower in early Asian trading on Tuesday as a rebound in Libyan production put pressure on the market, along with a rise in U.S. drilling rig capacity that signals potential for increased supply. International Brent crude futures were trading down 3 cents at $53.09 a barrel at 0141 GMT from the previous session. U.S. benchmark West Texas Intermediate crude oil prices was down 1 cents to $50.23 a barrel.