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Oil prices decline on US inventory surge

Oil prices decline on US inventory surge

New York, Nov 17 (IANS) Oil prices declined on Wednesday in volatile trading as the US reported a 7.7-per cent increase of crude oil inventories.

The West Texas Intermediate for December Delivery lost $0.24 to settle at $45.57 a barrel on the New York Mercantile Exchange, while Brent crude for January delivery erased $0.32 to close at $46.63 a barrel on the London ICE Futures Exchange, Xinhua news agency reported.

 

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