London — Oil slipped towards $60 a barrel on Thursday after a report showed US crude inventories rose unexpectedly, although hopes of progress in resolving the US-China trade row lent support.

The American Petroleum Institute (API), an industry group, said on Wednesday that  US crude stockpiles rose by 400,000 barrels last week, while analysts had expected a fall. The government’s official supply report is due out later on Thursday...

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