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8/10, 4:43 PM (Source: TeleTrader)
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Oil falls further after build in US stockpiles

Prices of oil futures fell over 2.5% on Wednesday, extending losses after the US Energy Information Administration (EIA) reported that the country's inventories increased by 5.5 million barrels last week.

Reportedly, the American Petroleum Institute (API) yesterday also showed that stockpiles expanded in the same week.

West Texas Intermediate (WTI) for settlements in September decreased by 2.33% to sell for $88.39 per barrel at 10:31 am ET, while Brent for deliveries in October declined 2.34%, going for $94.18 per barrel a minute later.

Baha Breaking News (BBN) / MS