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Crude recovers, stable

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Singapore | Wednesday, Oct 24 2018 IST
Crude oil futures were stable to marginally higher during mid-morning trade in Asia on Wednesday.

However, a build was reported in US crude inventory to keep a downward pressure on prices.

At 10:48 am Singapore time (0248 GMT), the December ICE Brent crude futures moved 16 cents/b (0.21%) higher from Tuesday's settle at $76.60/b, while NYMEX December light sweet crude contract ticked up 2 cents/b (0.03%) at $68.45/b, SP Global reported.

Oil prices lost close to $3/b during Tuesday's trading session after comments from Saudi Arabia on increasing production helped to ease supply concerns in the market.

Earlier Tuesday, Saudi Arabia's energy minister, Khalid al-Falih, said OPEC and its allies were in a "produce as much as you can mode", according to media reports.

UNI XC PS 1404

-- (UNI) -- C-1-1-DL0421-1562129.Xml

 
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