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Oil prices extended previous session's losses on Wednesday. The delay in resolving US-China trade war weighed heavy over drop in US crude inventories. Brent went down by 0.3% and was traded at $61.41 a barrel. WTI slipped by 0.5% and was traded at $55.27 a barrel. US crude inventories have fallen flat on the ground after the decrease of 708,000 barrels against the investor's expectations of substantial improvement.