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(Bloomberg) Oil opened little changed in New York as a new year rally that pushed prices to the highest level in 10 months halted after U.S. fuel stockpiles expanded, offsetting another decline in crude inventories.
Futures traded near $53 a barrel after snapping a six-day advance in Wednesday’s session. Stockpiles of gasoline and distillates a category that includes diesel both increased by more than 4 million barrels last week, according to government data. Crude inventories declined for a fifth week.
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