Oil begins to decline in Asian trading


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Oil prices began to decline in Asian trading on Tuesday, near the lowest level in three months, at a time when investors await reports on oversupply in the global market.

The price of WTI US mediator increased by dividing the 3 cents at $ 48.43 a barrel, by at 03:29 GMT.

The contract closed down $ 9 cents in the previous session, after touching its lowest level since the end of last November at 47.90 dollars.

Brent crude prices rose 7 cents to $ 51.42 a barrel, having settled at two years on Monday, after falling to $ 50.85 a barrel.

Analysts said the decline may not continue more after prices lost more than eight percent since last Monday, in the biggest weekly loss during her four months.

The prices rose on Monday, due to reduced production for more than two months by the Organization of Petroleum Exporting Countries. Now, facing the market evidence of the continuation of the American higher production and a glut of global markets.