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2016.07.2008:00:00UTC+00Crude Oil Holds Near 2-month Lows Ahead Of EIA

Crude oil futures were flat Wednesday morning ahead of official inventories data from the Energy Information Department.

A key prelude in the form of industry data was roughly in line with expectations for a draw down in stockpiles.

The American Petroleum Institute's weekly report showed a 2.3 million barrel crude oil draw.

Prices dropped to their lowest in two months yesterday, with traders increased production from Africa and higher U.S. rig counts.

Crude oil for August was down 2 cents at $44.51 this morning.

The EIA is out with its weekly inventories report at 10:30 am ET.

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