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OIL NEWS UPDATE BY WWW.JOHNSONCOMMODITY.COM

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Oil prices dipped on Thursday as emerging market woes weighed on sentiment, while a deadline neared for a potential new round of U.S. tariffs on another $200 billion of Chinese goods.

Looming U.S. sanctions against Iran, however, prevented prices from falling further as they are expected to tighten the market after being implemented from November, traders said.

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