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Oil goes down 3.3% at Wednesday’s finish

Oil goes down 3.3% at Wednesday’s finish

Mubasher: Oil future settled lower on Wednesday, recording its first decline in five sessions.

September Nymex WTI lost $1.87, or 3.3%, to close at $55.23 per barrel.

The Energy Information Administration (EIA) stated that US crude oil inventories rose by 1.6 million barrels to 440.5 million barrels in the week ended 9 August.