Oil futures were declining early Thursday, ahead of the inventories, weighed down by expectations of a build in crude supplies and gloomy economic data from China and the United States.
Crude oil for March delivery dropped $1.70, or 3.8%, to $41.88 a barrel in electronic trading on Globex. "On the demand side, the markets received more evidence of the extent of the global economic weakness," said Nimit Khamar, an analyst at Sucden Financial Research.
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