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oil and gasFebruary 10, 2021

Oil declines ahead of US inventories data

Oil prices eased slightly on Wednesday ahead of official data on US crude stockpiles, and as industry report showed a decline in inventories.

International benchmark Brent crude was trading down 0.1 percent at $61.03 per barrel, at 7 am Riyadh time.

WTI crude fell 0.2 percent to $58.23 a barrel.

US crude inventories decline by 3.5 million barrels in the week to Feb. 5 to about 474.1 million barrels, Reuters reported, citing data from the American Petroleum Institute.

Official Energy Information Administration (EIA) data on US stockpiles is due later today.