Crude oil prices were pressured as US inventory showed double-digit increase last week. Saudi Arabia suggested that oil fundamentals improved but mainly driven by the Kingdom’s bigger-than-promised output cut. The front-month WTI contract fell for a second consecutive day, losing -0.11%, to 53.14. The Brent contract slipped -0.16% to settle at 55.92.
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Crude Oil Prices Dropped amidst Double-Digit Increase in Inventory
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