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By Alastair Macdonald and Philip Blenkinsop BRUSSELS (Reuters) - The European Union's chief negotiator set a target of agreeing a Brexit deal with Britain by October 2018, assuming London keeps a promise to formally launch the process of leaving the EU by the end of March. Michel Barnier, at a news conference on Tuesday, said the two-year deadline for final withdrawal fixed in Article 50 of the EU treaty meant there would be less than 18 months for actual negotiations. British Prime Minister Theresa May has said she will give formal notification of Britain's departure in March.
WASHINGTON (AP) — The U.S. trade deficit climbed in October from its lowest monthly level in nearly three years. Imports of consumer goods such as medicine, cell phones and clothing increased, while exports of soybeans, gold and artwork tumbled_which fueled the monthly widening of the trade gap.
Global oil prices slipped on Tuesday as data showed crude output rose in most major export regions despite plans by OPEC and Russia to cut production, triggering fears the fuel glut that has dogged markets for over two years might last well into 2017. Analysts said the boon from last week's OPEC decision, which helped boost prices by about 15 percent, has faded as they look to factors that may undermine the cartel's promise such as record production, Saudi Arabia's plans and the reaction of U.S. shale oil producers. "Most of the position adjustments that the OPEC decision forced upon traders have now run their course and it leaves the market exposed to profit taking," said Ole Hansen, head of commodities strategy at Saxo Bank.