Futures Movers: Oil prices waver as disappointing U.S. inventory data fuel oversupply concerns

Crude prices struggled for direction on Thursday as the surprise build in U.S. crude inventories last week disappointed investors and renewed concerns about the oversupplied oil market.

U.S. commercial stockpiles of crude oil and refined products increased by 6.6 million barrels in the week ended Aug. 19 to a record 1.4 billion barrels, the Energy Information Administration said, an indication that the global glut of crude that has weighed on prices for two years has yet to fully shrink.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in October CLV6, -0.02% inched up 1 cent in choppy trade to $46.78 a barrel.

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