(Reuters) - Oil steadied near $70 a barrel on Wednesday, as U.S. crude inventories were forecast to balloon to a fresh nine-year high and gasoline stockpiles were seen rising as refiners boosted output.
London Brent crude, currently seen as the best benchmark for global oil prices, edged up 1 cent to $70.18 a barrel by 0334 GMT, after falling $1.19 on Tuesday. U.S. light, sweet crude gained 3 cents to $67.80 a barrel.
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London Brent crude, currently seen as the best benchmark for global oil prices, edged up 1 cent to $70.18 a barrel by 0334 GMT, after falling $1.19 on Tuesday. U.S. light, sweet crude gained 3 cents to $67.80 a barrel.
Read more at Reuters Africa
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