Stocks of refined oils increased as stocks fell

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      Crude oil futures rose and fell on Wednesday after U.S. government data showed that U.S. crude oil inventories fell last week, but refined oil inventories rose, while concerns about the global economy continued to depress the market.
Brent crude oil futures rose $0.27 to close at $60.30 a barrel, down from an intraday high of $61.41.
U.S. crude oil futures fell $0.45 to close at $55.68 a barrel after hitting $57.13 a barrel.
Oil prices have shrunk, after data from the American Energy Information Association (EIA) showed that inventories of refined oil increased more than expected last week. Last week, gasoline stocks increased by 312,000 barrels and distillate stocks by 2.6 million barrels.
U.S. crude oil stocks fell by 2.7 million barrels last week, 1.9 million barrels less than market expectations.
"Apparent demand for gasoline and distillates remains weak and is not expected to improve by the end of the year," said Jim Ritterbusch, president of Ritterbusch and Associates.
Tensions between the United States and Iran remain the focus. Iranian President Ruhani has said that if Iran's oil exports are reduced to zero, international waterways will not be as safe as before. He warned Washington not to put more pressure on Tehran.
Meanwhile, Iranian Foreign Minister Zarif also said that Tehran may take "unpredictable" action in response to the U.S. policy under Trump.


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