Oil slips amid unexpected increase in US stockpiles
Brent is weaker after industry data showing a build in US crude stocks adds to the worry about oversupply
08 July 2020 - 08:20
Tokyo — Oil prices dipped on Wednesday after industry data showing a build in US crude stockpiles added to the worry about oversupply, but the hope for a swift economic recovery in China limited losses.
Brent crude futures fell 10c, or 0.2%, to $42.98 a barrel by 4.17am GMT. US West Texas Intermediate (WTI) crude futures dropped 12c, or 0.3%, to $40.50 a barrel, holding to the narrow range of the past few weeks...
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