Stocks pare gains; oil drops on inventory buildup

April 8, 2015 3:23 PM

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Stocks pare gains; oil drops on inventory buildup

Stocks pared early gains in morning trading Wednesday as oil prices and energy stocks dropped after a report showed U.S. oil inventories grew more than expected.

Investors were also reacting to a mega-deal in the oil industry as Royal Dutch Shell agreed to buy Britain's BG Group for $70 billion in cash and stock.

Also read: Trade tensions, dollar danger cloud economic optimism in Davos

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