Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
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European traders are moving more North Sea crude oil cargoes to the U.S. and Asia as European demand remains sluggish, traders and shipping brokers said Wednesday. For full story, click here