Crude prices decline on US inventory build-up - Breaking The News
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Crude prices decline on US inventory build-up

EPA-EFE/RONALD WITTEK

Crude prices for future contracts dropped on Thursday after data revealed an unexpected oil inventory build-up in the United States, which reached 467.6 million million barrels last week.

The US Energy Information Administration (EIA) said that the stockpiles increased by 5 million barrels, with the steep rise in crude oil inventories seemingly fueling concerns about weakening commodity demand in the country.

West Texas Intermediate (WTI) for June deliveries fell 0.89% to sell at $72.18 per barrel at 10:52 am ET. Brent for July settlements dipped 0.95% to $76.21 per barrel.

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