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Oil settles lower on Thursday  

Oil settles lower on Thursday  

Mubasher: Oil future fell at Thursday’s settlement, as US natural gas stockpiles rose. 

September Nymex WTI went down $0.76, or 1.4%, to close at $54.47 per barrel.

The Energy Information Administration (EIA) stated that the US natural gas storage grew by 49 billion cubic feet (Bcf) in the week ended 9 August, recording a total of 2,738 Bcf.