25th November 2015
Crude oil fell on Wednesday after a report showed another build in US stockpiles.
US light crude slipped three-quarters of one per cent to trade around $42.50 a barrel, while Brent was down by a similar margin at $45.75.
The drop came after the American Petroleum Institute reported a rise in inventories of 2.6 million barrels.
Rising stockpiles are piling pressure on prices, with the International Energy Agency saying that global stockpiles of crude now stand at three billion barrels.
Crude futures had surged overnight amid heightened geopolitical risks following the downing of a Russian fighter jet by Turkey.
Oil traders are looking ahead to the meeting of OPEC in Vienna next week, with few expecting the cartel to do anything other than keep output at current levels.
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