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Oil prices dropped in the international market on Wednesday, as the Libyan crude shortage was seen offset by global fuel supply. Brent crude LCOc1 slipped by 0.2%, to $64.46 a barrel. US WTI crude futures CLc1 fell 0.3%, to $58.22 a barrel. “Market participants are already starting to fade this story – believing that this is a transitory outage,” said the commodity strategy head at RBC Capital Markets.
