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U.S. oil prices drop on indication of domestic supply build; global Brent gains

May 1, 2019


Oil prices took to split paths early Wednesday, with U.S.-priced crude lower after a snapshot of production data revealed a U.S. inventory build. But the international benchmark Brent maintained modest gains, to build on a strong April showing.

“WTI oil futures are under pressure on signs of a sharp increase in U.S crude inventories and concerns over global demand,” said Dean Popplewell, vice president of market analysis with Oanda.

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