Crude Oil Dropped After Data Showed That U.S. Crude Supplies

Crude oil trading range for the day is 3077-3217. Crude oil dropped after data showed that U.S. crude supplies rose more than expected last week, underlining concerns over a global glut.
 
EIA said US inventories climbed almost 5mbls to 533.1 million last week, far outpacing forecasts of a 2.8mbl build.

US shale oil producers have been adding rigs, boosting production to about 9.1mbpd for the week ended March 10. 

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