Brent Declines for Third Day as U.S. Crude Supplies Climb
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Brent crude futures fell for a third session as U.S. inventories increased. Iraq resumed oil exports via Turkey today after a halt caused by sabotage to a pipeline.
Brent dropped as much as 0.8 percent. Total U.S. crude stockpiles rose by 230,000 barrels, according to the Energy Department. Iraq’s state-run North Oil Co. repaired the pipeline to Turkey following a bombing attack yesterday in the city of Mosul. Weekly U.S. jobless claims dropped to 323,000, 13,000 fewer than had been expected, according to a Bloomberg survey, and 3,000 fewer than in the previous week.