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Oil fell more than 1% ahead of US crude inventories dataInternational benchmarks for crude oil settled lower on Tuesday, 14 February 2023 after market sources said that preliminary data from the American Petroleum Institute showed a large build in the US crude and refined product inventories |
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International benchmarks for crude oil settled lower on Tuesday, 14 February 2023 after market sources said that preliminary data from the American Petroleum Institute showed a large build in the US crude and refined product inventories last week. While waiting for the official report from the Energy Information Agency, traders take a step back to assess the situation. If commercial stocks in the US increased last week, it would be the eighth consecutive week of rising inventory levels.
Brent slid $1.03 or 1.2% to close at $85.58/barrel.
WTI for March delivery fell $1.08 or 1.4% to close at $79.06/barrel.
