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Oil Prices Diverge as Brent Slips and US Crude Gains More than 3%

New York, October 16 (QNA) – Oil prices diverged at settlement on Thursday, with Brent crude edging lower while US West Texas Intermediate (WTI) rose by more than 3%.

Brent crude futures fell 14 cents, or 0.13%, to settle at $105.92 a barrel.

In contrast, US WTI crude futures gained $2.88, or 3.03%, to settle at $97.97 a barrel.

The US Energy Information Administration reported on Thursday that crude oil and distillate inventories in the United States fell last week, while gasoline stocks increased. (QNA)