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Futures Movers: Oil prices tumble as investors brace for possible spike in U.S. supply

Crude prices fell further ion Wednesday as a larger-than-expected increase in U.S. crude stocks reinforced views that American oil producers could thwart efforts reduce global oversupply.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in March CLH7, -0.96% traded at $51.57 a barrel, down $1.17, or 0.6%, in the Globex electronic session. April Brent crude LCOJ7, -0.62% on London’s ICE Futures exchange fell 45 cents, or 0.8%, to $54.59 a barrel.

Oil prices tumbled late Tuesday after American Petroleum Institute data showed U.S. crude stockpiles rose by 14.2 million barrels last week.

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