January 28, 2016 7:41 AM

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US crude futures fall more than 1% in Asian trading

US crude futures fell more than 1 percent in Asian trading today, paring gains of nearly 3 percent in the previous session, after Russia held out the possibility of cooperating with OPEC to control global oversupply. Falls were capped, however, by a weaker dollar following the Federal Reserve's decision to keep its overnight interest rate unchanged and the release of a statement suggesting it was re-evaluating the pace of future hikes. US crude lost 33 cents at 31.97 dollars a barrel. It settled up 85 cents at 32.30 dollars a barrel, a 2.7 percent gain, on the previous session. Brent crude ended up 1.30 dollars, or 4.1 percent, at 33.10 dollars a barrel.

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