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Oil prices inch down on rising U.S. oil rigs

Xinhua, December 31, 2016 Adjust font size:

Oil prices ended slightly lower on Friday as data showed U.S. oil rigs increased for a ninth straight week.

The West Texas Intermediate for February Delivery erased 0.05 U.S. dollars to settle at 53.72 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery dropped 0.03 dollars to close at 56.82 dollars a barrel on the London ICE Futures Exchange. Endit