Oil prices fall on bloated U.S. crude storage | Reuters
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC-led effort to cut output.Prices for front-month Brent crude futures LCOc1, the international benchmark for oil, were at $50.92 per barrel at 0051 GMT, down 4 cents from their last close.U.S. West Texas Intermediate (WTI) crude futures were down 8 cents at $48.16 a barrel.
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