Crude oil continued to consolidate around the highest levels in 7 weeks. The inventory build probably weighed on prices, sending both benchmarks lower at close. Traders were also cautiously awaiting the FOMC meeting and the OPEC/non-OPEC meeting due Friday on potential extension of output cut. The front-month WTI crude oil contract slipped -0.86% while the Brent contract was down -0.61% for the day.
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Crude Oil Prices Range-Bounded at 7-Week High; FOMC Awaited
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