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1st LD Writethru: U.S. oil prices edge down following inventory report

Xinhua, June 18, 2015 Adjust font size:

U.S. oil prices edged slightly down on Wednesday after government data showed that U.S. inventories dropped last week.

U.S. crude supplies last week decreased 2.7 million barrels to 467.9 million, according to the weekly report of the Energy Information Administration (EIA) on Wednesday.

Inventories at Cushing, Oklahoma, the delivery point for the U. S. contract, added 100,000 barrels to 58.1 million barrels.

U.S. crude production lost 21,000 barrels to 9.589 million barrels a day that week. Last week, the number of U.S. rigs actively drilling for oil reduced 7 rigs to 635, reported oil service company Baker Hughes last Friday.

Brent crude rebounded a little after four-day retreat as traders started to buy the dip.

Light, sweet crude for July delivery moved down 5 cents to settle at 59.92 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery added 17 cents to close at 63.87 dollars a barrel. Endite