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Futures Movers: Oil prices barely budge after EIA reports a 500,000-barrel weekly rise in U.S. supplies

Oil futures barely budged on Wednesday, with U.S. prices settling pennies higher and the global benchmark Brent slightly lower, after the Energy Information Administration reported a a 500,000-barrel weekly rise in U.S. crude inventories.

The size of the increase in domestic crude supplies defied some market expectations for a decline, but was also less than the climb reported by a trade group late Tuesday.

Price action
Supply data

The…

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