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Oil rises more than 1% after US stockpile drop; Brent nears $65

Updated : July 10, 2019 07:57 AM IST

West Texas Intermediate (WTI) WTI futures rose 90 cents, or 1.5 percent, to $58.73 by 0027 GMT. Brent was up 69 cents, or 1.1 percent, at $64.85.
Crude inventories fell by 8.1 million barrels in the week to July 5 to 461.4 million, compared with analysts' expectations for a decrease of 3.1 million barrels.
Oil prices have been under pressure from concerns about global economic growth amid growing signs of harm from the US-China trade war that has rumbled on over the last year.

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