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WTI fell 1.3% to $88.28 a barrel after giving up early gains; market talk cited optimism about Middle East crude flows and an unexpected 3.2 million barrel weekly inventory draw reported by the EIA.
U.S. stocks look set to open on a negative note on Wednesday, with futures of the Dow Jones, S&P 500 and Nasdaq 100 indices falling, following Tuesday’s higher close. Political fallout and rising Middle East tensions dominated headlines after President Donald Trump sparked bipartisan backlash over his remarks on Iran.