Oil declines as industry report shows bumper US stockpile build

The crude oil price declined Wednesday, as an industry report indicates a significant increase in US stockpiles.
Photo: Turar Kazangapov/Reuters/Ritzau Scanpix
Photo: Turar Kazangapov/Reuters/Ritzau Scanpix
By Yongchang Chin, Bloomberg

Oil extended a decline after an industry report pointed to a substantial build in US inventories, and wider markets struck a weaker tone ahead of the end of the quarter.

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