Oil futures slipped to begin March, after an industry group reported another large jump in U.S. crude inventories, outweighing a round of upbeat data on economic activity in China.
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The American Petroleum Institute late Tuesday reported a 6.2 million barrel increase in U.S. crude supplies last week, according to a source citing the figures. Gasoline inventories were down 1.8 million barrels, while distillates fell 341,000 barrels.
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