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Futures Movers: Oil prices struggle to move higher, haunted by higher U.S. supply

Crude futures slipped Thursday after a surprise buildup in U.S. crude stockpiles last week, but their loss was limited by a weaker U.S. dollar.

In fact, crude prices were modestly higher earlier Thursday, before moving lower. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG7, -0.53% traded at $52.23 a barrel, down 26 cents, or 0.5%, in the Globex electronic session. February Brent crude LCOG7, -0.53% on London’s ICE Futures exchange slipped 26 cents, or 0.5%, to $54.19 a barrel.

The dollar was last down 0.5% at 93.19, according to the Wall Street Journal Dollar Index BUXX, +0.03% , which measures the U.S currency against more than a dozen rivals.

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