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2016.08.1705:59:00UTC+00Oil Rally Pauses Ahead Of EIA

Crude oil futures fell Wednesday morning, trimming recent gains after mixed inventories data.

U.S. crude oil inventories are down just over 1 million barrels for the week ended 12 August, according to the weekly American Petroleum Institute (API) report.

On the other hand, U.S. gasoline inventories are up over 2 million barrels in the biggest increase in six months.

The Energy Information Administration is out with official data at 10:30 am ET.

U.S. WTI for September was down 33 cents at $46.24 an ounce, having jumped sharply since last week amid talk of a deal between Saudi Arabia and Russia to curb supplies.

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