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Urgent: Oil prices rally as supplies increase less than expected

Xinhua, March 17, 2016 Adjust font size:

Oil prices surged Wednesday as a government report showed a less-than-expected increase in U.S. crude stockpiles.

The West Texas Intermediate for April delivery moved up 2.12 U.S. dollars to settle at 38.46 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery increased 1.59 dollars to close at 40.33 dollars a barrel on the London ICE Futures Exchange. Endit