Investing.com-- Oil prices fell sharply in Asian trade on Wednesday, extending recent losses as signs of an unexpected build in U.S. stockpiles and strong crude production sparked doubts over tight supply conditions.
While gasoline and distillate stockpiles shrank, the rise in overall inventories suggested that oil supplies were not as tight as initially expected in the world’s biggest fuel consumer. This spurred doubts over just how tight global crude markets would be in the coming months, given that U.S. output remains robust and the country’s oil markets remain well supplied.
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