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Oil falls as U.S. fuel stock build signals easing demand

Reuters  |  NEW YORK 

By David GaffenNEW YORK (Reuters) - Oil fell 2 percent on Wednesday after a sharp rise in U.S. inventories of refined fuel suggested demand may be flagging, while U.S. crude production hit another weekly record.Government data showed that U.S. crude stocks fell 5.6 million barrels, more than expected, though that was partially the result of the closure of the Keystone pipeline after a leak in South Dakota in mid-November, which cut flows to Cushing, Oklahoma. That line reopened Tuesday. However, gasoline stocks rose by 6.8 million barrels and distillate inventories were up 1.7 million ...

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First Published: Wed, December 06 2017. 23:06 IST