Reuters: Oil falls to $47 on profit-taking

[chris]

Oil falls to $47 on profit-taking
      

SINGAPORE (Reuters) - U.S. crude prices fell by more than $1 a barrel on Tuesday on profit-taking, after surging 5 percent overnight on fears that Israel's deepening incursion into Gaza and a spat between Russia and Ukraine over gas prices could spark severe supply disruptions. By 0800 GMT, U.S. crude oil futures for February delivery were down $1.04 a barrel at $47.77.<div class="feedflare">
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