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10/23, 8:25 AM (Source: TeleTrader)
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Oil trades lower on rise in US stockpiles

Crude prices declined on Wednesday after private data from the United States showed a larger-than-expected rise in the country's oil inventories.

According to the American Petroleum Institute's (API) report, US stockpiles increased by 4.45 million barrels last week. Official data from the US Energy Information Administration (EIA) is scheduled for release later in the day.

West Texas Intermediate (WTI) for settlements in December fell 0.57% to sell for $54.17 per barrel at 2:06 am ET and Brent for December delivery traded 0.35% lower to go for $59.50 per barrel at 2:13 am ET.

Breaking the News / NP