Oil markets were stable on Tuesday, supported by a fall in Saudi Arabian crude exports but capped by an expected rise in U.S. shale output. U.S. West Texas Intermediate (WTI) crude futures were at $50.00 per barrel at 0043 GMT, 9 cents, or 0.2 percent, above their last settlement. WTI has been loitering around $50 per barrel since late last week, supported by rising demand from the restart of many refineries knocked out by Hurricane Harvey, but prevented from breaking away from that level by rising U.S. crude output.
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Written by Karolin Schaps at Reuters