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Crude Oil Down U.S. Stock Response

New York (Benchmark News) – World oil prices dropped on Thursday (29/12/2016), since the United States reported a rise in crude oil inventories last week.

Inventories of crude oil rose 0.6 million barrels last week to become 486.1 million barrels, or increased ride 6.8 per cent from the same time last year, the U.S. Energy Information Agency (EIA) reported on Thursday.

U.S. benchmark crude oil, West Texas Intermediate (WTI) for delivery in February, dropped 0.29 us dollars became settled in the 53.77 u.s. dollars per barrel on the New York Mercantile Exchange.

Meanwhile, the global benchmark, Brent crude oil for delivery in February, dropped 0.08 u.s. dollars to close at 56.14 u.s. dollars a barrel on London’s ICE Futures Exchange…(Red).

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