Energy

Cushing crude stocks in focus

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Workers extracting oil from oil wells in the Permian Basin in Midland, Texas on May 1, 2018.

Benjamin Lowy | Getty Images

Oil prices slipped on Wednesday, with U.S. crude falling for a third day after an industry report that stocks at the Cushing delivery hub for the benchmark rose last week, shrugging off a drop in overall inventories.

Brent crude was down 15 cents, or 0.2%, at $61.44 a barrel by 0118 GMT after gaining 2 cents on Tuesday.

U.S. West Texas Intermediate (WTI) crude was down 18 cents, or 0.3%, at $55.36 a barrel, having dropped 0.5% in the previous session.

Crude stocks at the Cushing, Oklahoma, delivery hub for WTI rose by 1.2 million barrels, the American Petroleum Institute…



Source cnbc.com

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