Crude oil contracts declined for the third straight day on the MCX in line with benchmark contracts on the NYMEX following reports of a rise in inventories and production. The American Petroleum Institute said crude oil inventories in the US rose 1.78 mln barrels at the end of last week, against market expectations of fall in stocks. Prices also came under pressure after reports of an increase in crude oil production by members of the OPEC in July.
Source: Newswire
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