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Oil edges lower on high fuel inventories, industry efficiency

Reuters  |  SINGAPORE 

By Henning Gloystein and Aaron SheldrickSINGAPORE (Reuters) - Oil markets edged lower on Friday amid high fuel inventories and improving industry efficiency, but remained on track for a solid weekly gain, Brent crude futures, the international benchmark for oil prices, were down 19 cents, or 0.4 percent, at $48.23 per barrel at 0709 GMT. They have risen about 3.5 percent so far this week.U.S. West Texas Intermediate (WTI) crude futures were at $45.93 per barrel, down 15 cents, but heading for a 3.8-percent gain over the week.Crude prices are still around levels in late November last year, ...

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First Published: Fri, July 14 2017. 12:46 IST