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The major crude benchmarks added around $0.25...>

OIL
OIL: The major crude benchmarks added around $0.25 a piece from settlement
overnight, but consolidated lower after trading heavy on Wednesday.
- Increased worry surrounding the trade war, on the back of China's
countermeasures to U.S. tariffs, weighed on Wednesday, as did worries
surrounding slowing Chinese demand.
- Elsewhere a smaller than expected drawdown in headline crude inventories in
the latest DoE inventory data dimmed bull's short term hopes, with a build in
Gasoline stocks also weighing, although U.S. production ticked lower.
- There was also talk of North Sea producers struggling to find buyers for their
product.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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