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Oil Extends Losses as Economic Data, Growing Inventories Drag


Thursday, 3 October 2019 08:50 WIB

Minyak WTIbrent oilOil,Crude Oil


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Oil futures extended losses on Thursday as weak economic data weighed on the outlook for fuel demand which was made worse by a larger than expected rise in U.S. crude inventories.

Brent crude oil futures fell 17 cents, or 0.3%, to $57.52 a barrel by 0052 GMT, after tumbling 2% in the previous session.

U.S. West Texas Intermediate (WTI) crude futures fell 9 cents, or 0.2%, to $52.55 a barrel, after sinking by 1.8% on Wednesday.

U.S. crude inventories rose 3.1 million barrels last week, the Energy Information Administration said on Wednesday, far exceeding analyst expectations for an increase of 1.6 million barrels.

Source : Reuters


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