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As the focus of investors shifted towards oversupply concerns, crude oil futures declined during mid-morning trade in Asia. Economists are raising concerns about oversupply risk stating that geopolitical risks are traditionally short-lived. Data from EIA shows a hike of 5.84 million-barrel in US crude stocks. Investors are worried that this increase in stockpiles might become a trend and so they are looking for fresh data from EIA this week.
