SINGAPORE, March 12 (Reuters): Brent crude prices eased on Friday but hovered near US$70 a barrel as production cuts by major oil producers constrained supply, with optimism about a recovery in demand for the resource in the second half of the year also lending support.
Brent crude futures for May slipped 33 cents, or 0.5%, to US$69.30 a barrel by 0749 GMT while US West Texas Intermediate crude for April was at US$65.65 a barrel, down 37 cents, or 0.6%.
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