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Oil prices recover on mixed data

Xinhua, February 25, 2016 Adjust font size:

Oil prices increased Wednesday as U.S. crude data came out mixed.

U.S. crude supplies of last week added 3.5 million barrels to 507.6 million barrels, 73.5 million barrels more than one year before, according to the weekly report of the U.S. Energy Information Agency (EIA) released Wednesday.

U.S. gasoline demand, however, rose 5.2 percent over the past four weeks compared with a year ago, while inventories of motor fuel decreased by 2.2 million barrels, the report said.

The West Texas Intermediate for April delivery moved up 0.28 U.S. dollar to settle at 32.15 dollars a barrel on the New York Mercantile Exchange, while Brent crude for April delivery climbed 1.14 U.S. dollars to close at 34.41 dollars a barrel on the London ICE Futures Exchange. Enditem