Oil prices ended lower on Wednesday, shaking off earlier gains fueled by expectations for a deficit in global supplies, as a stronger-than-expected reading on U.S. inflation raised worries about a decline in energy demand.
The tug of war in oil prices follow the latest update on U.S. petroleum supplies, with the Energy Information Administration reporting a weekly rise in domestic crude inventories following four consecutive weeks of declines.
Price action
Risk of global supply deficit
In…
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