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ICBC Global Market: Oil and Other Commodities Market Update - December 7, 2017

Oil fell on Wednesday on a sharp rise in U.S. inventories of refined fuel, another weekly record high in U.S. crude production, and a firmer dollar. Front-month U.S. West Texas Intermediate crude futures tumbled 2.63 percent at $55.97 a barrel. Front-month Brent crude futures slumped 2.36 percent to $61.20 a barrel. The spread between the two benchmarks stood at $5.23 a barrel.


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