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Oil prices fall as US crude stockpiles drop by 1.5 million barrels, less than expected
Oil prices fell toward session lows after government data showed a smaller drop in U.S. crude inventories than the market had expected. U.S. commercial crude inventories fell by 1.5 million barrels in the week through July 28. Analysts were expecting inventories to fall by 3 million barrels last week, according to a Reuters survey. U.S. West Texas Intermediate (WTI) crude were down 53 cents, or 1.1 percent, to $48.63 per barrel by 10:34 a.m. ET (1434 GMT). Brent crude, the international oil benchmark, was down 39 cents at $51.39 per barrel. The price hit $52.93 on Monday, its highest since late May. Gasoline stocks ... (full story)
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