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12/2/2020, 7:56 AM (Source: TeleTrader)
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Oil falls amid unexpected rise in US inventories

Prices of oil decreased by nearly 1% on Wednesday after private data reportedly showed a surprise increase in crude oil stockpiles in the United States.

According to the American Petroleum Institute's (API) report, US crude inventories jumped by 4.15 million barrels last week with gasoline stock climbing 3.4 million barrels over the same seven-day period.

West Texas Intermediate (WTI) for deliveries in January declined 0.61% to sell for $44.28 per barrel at 1:44 am ET. International benchmark Brent went down by 0.51% a minute later, trading at $47.18 per barrel.

Breaking the News / GA