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Oil prices fall amid build in U.S. inventories

NEW YORK
2021-10-28 04:44

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NEW YORK, Oct. 27 (Xinhua) -- Oil prices dropped on Wednesday after data showed a rise in U.S. crude stockpiles.

The West Texas Intermediate for December delivery lost 1.99 U.S. dollars to settle at 82.66 dollars a barrel on the New York Mercantile Exchange. Brent crude for December delivery decreased 1.82 dollars to close at 84.58 dollars a barrel on the London ICE Futures Exchange.

U.S. crude oil inventories increased by 4.3 million barrels during the week ending Oct. 22, the U.S. Energy Information Administration (EIA) reported on Wednesday. Analysts polled by S&P Global Platts had expected U.S. crude supplies to show a 100,000-barrel decline.

According to the EIA, total motor gasoline inventories decreased by 2.0 million barrels last week, while distillate fuel inventories decreased by 0.4 million barrels.
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