Oil Rises After Industry Report Points to Lower US Stockpiles

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American Petroleum Institute,Crude Inventories,Market Outlook

(Bloomberg) -- Oil extended gains after industry data pointed to shrinking US crude stockpiles ahead of a report from the IEA on the market outlook.Most Read...

-- Oil extended gains after industry data pointed to shrinking US crude stockpiles ahead of a report from the IEA on the market outlook.West Texas Intermediate rose above $78 a barrel after climbing more than 3% over the previous two sessions. Brent closed higher near $82 a barrel. The American Petroleum Institute reported that US crude inventories dropped by 2.4 million barrels last week, according to people familiar with the data.

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