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Oil prices fall due to an increase in US crude inventories

2019-10-31T04:19:56.555Z


NEW YORK - Oil prices fell after a sharp increase in US crude inventories as well as fears of an inevitable delay


New York-Sana

Oil prices retreated after a sharp increase in US crude inventories as well as fears of a possible delay to settle the trade dispute between Beijing and Washington.

Reuters reported that the settlement price of US West Texas Intermediate crude oil futures contract was set at $ 55.06 a barrel, down 48 cents, or 0.9 percent.

Brent crude fell 98 cents, or 1.6 percent, to close at $ 60.61.

Crude stocks, excluding the strategic oil reserves, rose 5.7 million barrels, while analysts expected a rise of 494,000 barrels, the Information Administration said.

Source: sena

All business articles on 2019-10-31

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