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Oil price settled higher on WednesdayOil price settled higher on Wednesday |
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International benchmarks for oil prices increased on Wednesday (24 Feb) after the US Department of Energy's report show a good drop in gasoline inventories. The report indicated some 2.2 million drop in gasoline stock signaling a pick up in demand. Market has totally ignore the report on US commercial crude supplies which rose by 3.5 million barrel to reach a record high of 507.6 million barrel on 19 Feb.
WTI closed at $32.15/b (+$0.28)
Brent closed at $34.41/b (+$1.14)
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