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Oil prices on track to enter a bear market as weekly U.S. crude supplies jump to a nearly 2-year high - MarketWatch
Oil prices on track to enter a bear market as weekly U.S. crude supplies jump to a nearly 2-year high  MarketWatch

FUTURES MOVERS By Myra P. Saefong, Rachel Koning Beals Getty Images Oil prices dropped Wednesday, on track to enter a bear market, as U.S. data revealed a weekly crude supply climb of almost 7 million barrels—the largest in five weeks—to their highest level in nearly two years. “Crude inventories are now at their highest since July 2017, up nearly 44 million barrels since mid-March,” said Matt Smith, director of commodity research at ClipperData. West Texas Intermediate crude for July delivery (CLN19) lost $1.92, or 3.6%, at $51.56 a barrel on the New York Mercantile Exchange. A settlement ...

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