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U.S. oil edges up after drop in crude inventories, but soaring output weighs

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices inched up on Thursday on a decrease in U.S. crude inventories, but rising gasoline stocks and crude production weighed on the market.U.S. West Texas Intermediate (WTI) crude futures were at $56.09 a barrel at 0021 GMT, up 13 cents, or 0.2 percent from their last settlement.Brent crude futures , the international benchmark for oil prices, were yet to trade.Traders said the higher prices came as U.S. crude oil inventories fell by 5.6 million barrels in the week to Dec. 1, to 448.1 million barrels , putting stocks below seasonal levels in 2015 ...

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First Published: Thu, December 07 2017. 06:06 IST