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Oil prices extend gains as stockpiles fall

Xinhua, May 26, 2016 Adjust font size:

Oil prices rallied Wednesday as official data showed a larger-than-expected drop in crude stocks.

The West Texas Intermediate for July delivery added 0.94 U.S. dollar to settle at 49.56 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery increased 1.13 dollars to close at 49.74 dollars a barrel on the London ICE Futures Exchange. Enditem