US crude fell by 14¢ to stand at $86.78 a barrel due to a sudden rise in US crude stocks.
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Brent crude fell by 3¢ to $110.51 a barrel after the International Monetary Fund warned that the US and Europe could slip back into recession, reports Reuters.
Investors refrained from investing in crude energy ahead of the outcome of a Federal Reserve policy meeting today, when the bank is expected to announce further measures to bolster the US economy.
A surprise build in crude stocks in the world’s top oil consumer added further pressure on the US benchmark.
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