Crude prices petered out in early Asian trade Thursday as growing global inventories trumped any bullishness associated with the latest bigger-than-expected reduction in U.S. crude stockpiles.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in September CLU6, +0.26% traded at $46.80 a barrel, down $0.01 in the Globex electronic session. October Brent crude LCOV6, -0.08% on London’s ICE Futures exchange fell $0.16 to $49.69 a barrel.
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