Oil dips on oversupply sentiment but sanctions limit decline


SINGAPORE: Oil prices fell on Wednesday as an industry report showed higher crude inventories in the United States, the world's biggest crude consumer, reinforcing concerns of oversupply, though price declines were limited by sanctions on Russian oil.

Brent crude futures eased 22 cents, or 0.3%, to $64.67 a barrel by 0730 GMT, after gaining 1.1% in the previous session.

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