WTI drops toward $68 after API report shows a surprise build in US crude stocks

Crude inventories in the U.S. rose by 5.6 million barrels. In July, OPEC output hits the highest level of 2018. EIA report shows a 1.6% increase in oil demand in the U.S. in May. Crude oil prices came under a sudden selling pressure in the late NA session after the API reported a sharp increase in crude inventories and the barrel of West Texas Intermediate dropped to a fresh weekly low at $68.10 in the post-settlement trade.

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