OIL prices declined after the biggest spurt in five weeks as an industry report showed American crude stockpiles expanded, reported Bloomberg.
Futures lost as much as 1.5 per cent in New York after the American Petroleum Institute was said to report that crude inventories rose by 3.7 million barrels last week.
A Bloomberg survey predicts a draw in stockpiles. Oil surged four per cent after the US postponed tariffs on some Chinese goods, offering a glimmer of hope for global demand.
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Futures lost as much as 1.5 per cent in New York after the American Petroleum Institute was said to report that crude inventories rose by 3.7 million barrels last week.
A Bloomberg survey predicts a draw in stockpiles. Oil surged four per cent after the US postponed tariffs on some Chinese goods, offering a glimmer of hope for global demand.
WORLD SHIPPING