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Oil Prices Hold Steady For Third Day; Eyes On Economic Data

Oil prices were little changed for a third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC and non-OPEC members. Brent crude dipped 7 cents, or 0.1 percent, to $55.94 a barrel as of 0229 GMT, with a firmer dollar, which rose slightly against a basket of other currencies, putting some pressure on dollar-denominated oil prices. U.S. West Texas Intermediate crude eased 3 cents, or 0.1 percent to $53.17 a barrel. "There's a lack of catalysts today possibly trading is around 25% of normal," said Michael McCarthy, chief market strategist at Sydney's CMC Markets.

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