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Oil Prices Slip as Saudi Arabia Cuts Prices and China’s Covid-19 Lockdowns Intensify

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Oil prices declined Monday after Saudi Arabia, the biggest exporter, reduced prices for Asia and the northwest of Europe.

Tighter lockdowns in China to prevent the spread of new Covid-19 outbreaks, as well as signs of a broader global economic slowdown, also weighed on prices.

Brent crude, the international standard, traded down 0.7% at $111.56…

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