Crude futures dipped Tuesday on the heels of a revised forecast from the International Energy Agency for slowing growth in oil demand this year.

Light, sweet crude for May delivery on the New York Mercantile Exchange fell 41 cents to $53.30 a barrel by late afternoon in Europe. Heating oil was down by half a cent at $1.4825 a gallon, while unleaded gasoline fell more than a cent to $1.5390. On the International Petroleum Exchange in London, Brent crude fell 59 cents to $52.62 a barrel.

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