Oil edges up on supply cuts, demand hopes

LONDON July 11 (Reuters) – Oil prices edged higher on Tuesday supported by supply cuts by the world’s biggest oil exporters and continued hopes for higher demand in the developing world in the second half of 2023.

Brent crude futures were up 46 cents, or 0.6%, to $78.15 a barrel by 0802 GMT, and U.S. West Texas Intermediate crude was up 48 cents, or 0.7%, at $73.47.

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