Oil losses exceed 4.5% at settlement after inventory data



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DirectOil prices worsened losses by more than 4.5% on Wednesday, after the release of US inventory data.

According to data from the US Energy Information Administration, US oil inventories rose 2.4 million barrels last week, contrary to expectations.

US oil production rose by 100,000 barrels a day last week to 12,300 billion barrels a day.

The fall of the black gold also comes from the fear of a slowdown in demand due to the intensification of trade disputes after the US president has decided to apply customs duties $ 300 billion on Chinese imports from next month.

At settlement, futures prices for US crude "Nymex" for delivery in September fell 4.7% to $ 51.09 per barrel.

By 19:00 GMT, Brent crude futures prices for October delivery were down nearly 4% to $ 56.65 per barrel.

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