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Oil pares gains after industry data shows weekly US crude build

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Crude oil prices pared gains on Tuesday after data from U.S. industry group the American Petroleum Institute showed a strong build in crude oil stocks for a second week in a row.

[NEW YORK] Crude oil prices pared gains on Tuesday after data from U.S. industry group the American Petroleum Institute showed a strong build in crude oil stocks for a second week in a row.

Benchmark Brent crude was up 30 cents at US$66.49 a barrel by 4.38pm EST (2138 GMT), versus its settlement for the day at US$66.84. US crude was 33 cents higher at US$63.38, versus the session close of US$63.82.

US crude oil inventories rose by 4.4 million barrels in the week to 377.4 million, compared with analysts' expectations for a decrease of 2.2 million barrels, API said.

REUTERS

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