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Futures Movers: Oil prices barely budge after EIA reports a 500,000-barrel weekly rise in U.S. supplies

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Oil futures barely budged on Wednesday, with U.S. prices settling pennies higher and the global benchmark Brent slightly lower, after the Energy Information Administration reported a a 500,000-barrel weekly rise in U.S. crude inventories.

The size of the increase in domestic crude supplies defied some market expectations for a decline, but was also less than the climb reported by a trade group late Tuesday.

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