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Oil mixed ahead of official U.S. crude inventory data

Published 20/07/2016, 12:35
Updated 20/07/2016, 12:35

Investing.com – Oil futures were mixed in choppy trade Wednesday ahead of the release of official U.S. crude inventory data.
U.S. crude was down 4 cents, or 0.09%, at $45.41 at 06:45 ET, while Brent crude added 0.54% to $46.91.
American Petroleum Institute figures Tuesday showed a draw of 2.3 million barrels of crude in the latest week.
Official Energy Information Administration (EIA) stockpile figures are due out later Wednesday.
These are forecast to show a draw of 2.1 million barrels of crude in the week.
Oil future gains were limited by the strength of the dollar in the wake of some upbeat U.S. economic data.
Expectations of a U.S. rate hike by the end of the year have strengthened in the wake of the figures.
The dollar index earlier hit four-month highs. A stronger dollar weakens demand for oil.

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