UPSTREAMONLINE.COM
US oil prices fell on Friday after official data released late on Thursday showed stockpiles rose last week for a seventh straight week, although losses were muted as inventory growth was well below expectations. There were also signs that traders are starting to shift crude stored on tankers in Asia and tanks in the US. US West Texas Intermediate was down 16 cents at $54.29 by 7:28am GMT. WTI was on track for a weekly gain of about 1.6%, which would be its biggest increase over a week this year.
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US oil prices fell on Friday after official data released late on Thursday showed stockpiles rose last week for a seventh straight week, although losses were muted as inventory growth was well below expectations. There were also signs that traders are starting to shift crude stored on tankers in Asia and tanks in the US. US West Texas Intermediate was down 16 cents at $54.29 by 7:28am GMT. WTI was on track for a weekly gain of about 1.6%, which would be its biggest increase over a week this year.
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