Oil Drops Nearly 9%, Marks First Loss In Five Sessions

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Oil futures dropped nearly 9% on Wednesday to log their first loss in five trading sessions. Weekly U.S. crude supplies climbed by a bigger-than-expected 6.3 million barrels, according to government data. March crude shed $4.60, or 8.7%, to settle at $48.45 a barrel on the New York Mercantile Exchange.

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