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Oil extended losses after an industry report pointed to rising US crude inventories, adding to bearish signs for the market. West Texas Intermediate dropped for a third session toward $78 a barrel, while Brent closed 1% lower on Tuesday. The American Petroleum Institute reported that crude stockpiles rose by 2.5 million barrels last week, according to ...
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Oil prices fell for a third straight session on Wednesday on expectations the Federal Reserve could keep U.S. interest rates higher for longer due to sustained inflation, potentially impacting fuel use in the world's largest oil consumer. Brent crude futures were down 43 cents, or 0.5 per cent, to $82.45 a barrel. U.S. West Texas Intermediate crude (WTI) ...