Latest Oil Market News and Analysis for Nov. 6

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Oil steadied after a two-day decline, as the Energy Information Administration confirmed the biggest increase in US stockpiles since July.
West Texas Intermediate traded under $60, after losing 2.4% over the prior two sessions, while Brent settled below $64 on Wednesday. The EIA report showed crude inventories rose 5.2 million barrels in the week ending Oct. 31. That was slightly lower than a forecast by a closely followed industry group, and a drop in product inventories limited the bearish momentum.