2/24, 6:54 AM (Source: TeleTrader)
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Oil down 1% as US crude inventories grow

Prices of oil decreased over 1% on Wednesday after private data showed that the United States crude oil stockpiles grew last week.

The American Petroleum Institute unveiled that the country's oil reserves climbed by 1.03 million barrels in the week ending February 19, while inventories in Cushing, Oklahoma, went up by 2.8 million barrels in the same period.

West Texas Intermediate (WTI) for April settlement slid 1.10% to sell for $60.99 per barrel at 1:31 am ET. Meanwhile, Brent for the same month's delivery declined 0.54% at 1:43 am, trading at $65.02 per barrel.

Breaking the News / GA