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Oil declines as traders assess US stockpiles, outlook for dollar

Oil prices dive following a three-day advance as investors assess data suggesting an increase in US inventories.

Photo: Todd Korol/Reuters/Ritzau Scanpix

Oil fell after a three-day climb as investors weighed data that pointed to a rise in US inventories and the outlook for the dollar.

West Texas Intermediate for September, the contract with the highest volume and open interest, edged lower in early Asian trading after rising more than 8% in the prior three sessions. That advance was supported by weakness in the US currency, a pipeline outage, and signs physical markets remain tight.

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