Crude oil declined on high inventories and no stimulus from Fed

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Source: Forexpros
Crude oil prices dropped in Asian session on Thursday as EIA reported a 2.86 million barrels increase in crude oil inventories last week, confronting the expectations of a 1.11 million barrels fall. Moreover, Fed decided not to implement the next round of QE thus weighting on the demand prospects. Light, sweet crude oil futures for August delivery traded at 80.76 US Dollars per barrel on the New York Mercantile Exchange, declining by 0.85%.


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