Oil prices dipped on Wednesday as bloated U.S. supplies weighed on markets while a fall in Saudi crude exports was offset by rising production in the country. Brent crude futures, the international benchmark for oil, were at $54.84 per barrel at 0059 GMT, down 5 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures were down 4 cents at $52.37 a barrel. Crude oil prices were slightly weaker as the focus turned back to U.S. inventories and output. Data from the American Petroleum Institute (API) on Tuesday showed that U.S. markets remained bloated.

Get Commodity Market Tips for click here http://www.ripplesadvisory.com/services.php.