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Oil settles lower on Wednesday

Oil settles lower on Wednesday

Mubasher: Oil went down at Wednesday’s settlement, as US data showed higher inventories.

May Nymex WTI fell $0.41, or 0.6%, to close at $65.89 per barrel.

US crude oil stockpiles jumped by 5.5 million barrels to 460.6 million barrels in the week ended 19 April, according to the Energy Information Administration (EIA).