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Oil prices under pressure from rising U.S. inventories, output

Reuters  |  LONDON 

By Amanda CooperLONDON (Reuters) - Oil prices were broadly steady on Thursday but still set to slip over the week for the second time in a row against a backdrop of rising U.S. crude production and an increase in inventories.Brent crude futures were down 19 cents at $64.15 per barrel by 1254 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 5 cents at $61.11 a barrel.Brent was on track for a drop of around 0.1 percent this week, after last week's 4.4 percent slide.A build in U.S. crude inventory reported the previous day was not as large as expected, given that stocks tend to ...

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First Published: Thu, March 08 2018. 19:23 IST
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