Oil prices drop after U.S. inventories rise

Crude oil prices fell on Wednesday after industry data showed an increase in U.S. stockpiles, and as analysts said that U.S. output had been surprisingly resilient in the face of lower prices.

Benchmark U.S. crude futures slipped to a two-week low at $43.55 a barrel in early trading before trimming losses to trade down 59 cents at $43.62 a barrel by 1211 GMT (07:11 a.m. EST).

Brent crude futures were down 34 cents at $47.10 a barrel.

The price drops came on rising stockpiles in North America and slowing economies in Asia.

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