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On Thursday, US crude stockpiles reached the highest level in almost 17 months which led to the decline of oil prices. Brent slipped 0.2% and was traded at $71.57 per barrel. WTI went down by 0.4% and was traded at $64.36 per barrel. According to a report by EIA, US crude inventories took a leap from 7 million barrels to 456.6 million barrels in the last week.