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HOUSTON, Aug 28 - Oil prices edged higher on Monday after China took steps to bolster its flagging economy, although investors remain worried about the pace of growth as well as further U.S. interest rate hikes that could dampen demand.
The focus today is on"China actions to support its economy, Tropical Storm Idalia heading for Florida and whether Brent can regain momentum on a break above $85," said Ole Hansen, head of commodity strategy at Saxo Bank. "The looming expectations of yet higher interest rates is keeping a nervous trade to crude," said Dennis Kissler, senior vice president of trading at BOK Financial.
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