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Oil prices rebound ahead of official stockpile data

Xinhua, July 7, 2016 Adjust font size:

Oil prices rallied after sharp losses Wednesday, as investors awaited the Energy Information Administration's (EIA) stockpile data scheduled for release Thursday.

The West Texas Intermediate for August delivery rose 83 U.S. cents to settle at 47.43 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery gained 84 cents to close at 48.80 dollars a barrel on the London ICE Futures Exchange. Endit