U.S. crude oil inventories dipped during the week ending Dec. 13, the U.S. Energy Information Administration said in a report on Wednesday.
According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 1.1 million barrels from the previous week. Analysts polled by Reuters had expected a drop of 1.3 million barrels.
At 446.8 million barrels, U.S. crude oil inventories were about 4 percent above the five-year average for this time of year.
The West Texas Intermediate for January delivery settled 1 cent lower at 60.93 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery rose 7 cents to close at 66.17 dollars a barrel on the London ICE Futures Exchange.
Wednesday's market movement followed two rallying sessions, boosted by hopes of an improved outlook for crude demand in the wake of global trade progress.
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