April 10, 2013 5:40 PM

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Crude oil futures slips below 106 dollars a barrel

Brent crude oil futures slipped below 106 dollars a barrel, today, after U.S. crude oil stocks swelled to the highest level in more than two decades and dented the outlook for demand in the world's top consumer. Data from industry group the American Petroleum Institute showed a sharp rise of 5.1 million barrels in crude inventories last week, far higher than forecasts of a 1.5 million-barrel rise. So Brent crude futures fell 38 cents, to 105.85 dollars a barrel. U.S. crude lost 37 cents, to 93.83 dollars a barrel. Analysts said the actual physical demand remains subdued.

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