NEW YORK: Oil prices ended less than 1% lower on Wednesday after data showed a build in U.S. crude inventories, reinforcing the view that oil prices are range bound, buoyed by expected OPEC production cuts while pressured by U.S. output growth.
U.S. crude futures for March delivery settled at US$52.75 a barrel, down 43 cents, after earlier dropping to as low as US$52.56 per barrel.
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