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Oil futures nearest delivery on the New York Mercantile Exchange and Brent crude traded on the Intercontinental Exchange extended losses in early trade Thursday.

Crude and refined products futures and Brent crude fell in early trade Wednesday after preliminary data from the API showed across-the-board builds occurred in U.S. crude and petroleum inventories last week.

Oil futures nearest delivery on the New York Mercantile Exchange and Brent crude traded on the Intercontinental Exchange settled Wednesday's session sharply lower.

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