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Oil settles lower as U.S. crude output up, China imports down

Reuters  |  NEW YORK 

By Scott DiSavinoNEW YORK (Reuters) - Oil prices settled slightly lower on Wednesday after U.S. government data showed rising domestic crude production, a surprise build in U.S. stockpiles and a decline in monthly Chinese crude imports, a triple blow that was offset somewhat by rising tensions in the Middle East.Brent futures fell 20 cents, or 0.3 percent, to settle at $63.49 a barrel, while U.S. West Texas Intermediate crude fell 39 cents, or 0.7 percent, to settle at $56.81 per barrel.The U.S. Energy Information Administration (EIA) said in a report that U.S. crude production rose to 9.620 ...

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First Published: Thu, November 09 2017. 08:16 IST
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