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Oil Extends Losing Run on Demand Concerns, U.S. Stockpile Gain


Oil Extends Losing Run on Demand Concerns, U.S. Stockpile Gain
Bloomberg
1 hr ago
Sharon Cho
(Bloomberg) Oil dropped for a third day after data showed a rise in U.S. stockpiles and investors fretted over an uneven recovery in global demand.
West Texas Intermediate shed 0.5% following a fall on Wednesday, when government figures showed the first rise in American stockpiles in a month. A flare-up in coronavirus cases in India, the third-largest oil importer, is hurting consumption, with curbs reimposed in cities including Mumbai. That’s offsetting positive signals on demand from other economies including China and the U.S. ....

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