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Oil prices gain as inventory build eases recession concerns

Updated : August 28, 2019 08:00 AM IST

Brent crude was up by 41 cents, or 0.7 percent, at $59.92 a barrel by 0121 GMT. West Texas Intermediate crude was up by 57 cents, or 1.0 percent, at $55.50 a barrel.
US crude stockpiles fell sharply last week as imports dropped, plummeting by 11.1 million barrels, compared with expectations for a 2 million barrel draw, data from industry group, the American Petroleum Institute (API), showed.

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