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DirectUS oil stocks rose last week, contrary to badysts' expectations, and gasoline inventories fell over the same period.
Data from the US Energy Information Administration showed Wednesday that US crude oil inventories rose 1.6 million barrels during the week ending Aug. 9.
Analysts were anticipating a drop in US oil inventories of about 2.5 million barrels over the same period.
US gasoline inventories fell 1.5 million barrels last week.
At 1445 GMT, the price of futures contracts on US crude Nymex for delivery in September was down 3.3% to 55.23 dollars per barrel.
Brent futures futures for October delivery fell 3% to $ 59.44 per barrel.
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