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Oil Prices Down as Rising Crude Inventories Outweigh Positive News on Trade

Oil costs were down on Wednesday in Asia as rising rough inventories exceeded reports that the U.S. has postponed taxes on certain Chinese merchandise.

U.S. Unrefined petroleum WTI Futures were down 1.3% to $56.38 by 12:10 AM ET (04:10 GMT). Global Brent Oil Futures lost 1.1% to $60.64.

Week by week information from the American Petroleum Institute demonstrated U.S. unrefined stocks suddenly ascended by 3.7 million barrels to 443 million a week ago, contrasted and investigator desires for an abatement of 2.8 million barrels.