Crude oil futures traded lower on Wednesday morning despite data from an industry body that showed a decrease in US inventories for the week ending October 24.

At 9.57 am on Wednesday, January Brent oil futures were at $63.76, down by 0.11 per cent, and December crude oil futures on WTI (West Texas Intermediate) were at $60.09, down by 0.10 per cent. November crude oil futures were trading at ₹5,323 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹5,330, down by 0.13 per cent, and December futures were trading at ₹5,308 against the previous close of ₹5,314, down by 0.11 per cent.

According to the American Petroleum Institute (API), US crude oil inventories decreased by 4 million barrels for the week ending October 24. It ha

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