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Crude oil drops despite fall in stockpiles
(MENAFN- ProactiveInvestors)
West Texas Intermediate oil fell overnight as traders and investors ignored a fifth straight weekly decline in U.S. crude stockpiles.
Instead the focus was on a big build in distillates including diesel as the peak season for U.S. road travel began.
U.S. crude futures closed down 2.6% at US$59.64 a barrel.
Front-month Brent futures fell 2.4% to US$63.90 a barrel.
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