Oil Declines for Second Day After U.S. Crude Inventories Rise
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Crude oil declined in New York for a second day amid evidence that demand is falling in the U.S., the world’s largest energy consumer.
Crude inventories increased 3.69 million barrels last week for a second week, according to a report late yesterday from the industry-funded American Petroleum Institute. A U.S. government report on inventories today may show a drawdown.