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Oil prices drop on U.S. crude stockpiles increase

Xinhua, December 22, 2016 Adjust font size:

Oil prices dropped on Wednesday following a report showing a surprise increase in U.S. crude inventories last week.

The West Texas Intermediate for February Delivery decreased 0.81 dollars to settle at 52.49 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery dropped 0.89 dollars to close at 54.46 dollars a barrel on the London ICE Futures Exchange. Enditem