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Oil prices rebound on big U.S. gasoline stockpile drawdown

Xinhua, August 4, 2016 Adjust font size:

Oil prices posted solid gains Wednesday as official data from the country showed a larger-than-expected gasoline inventory drawdown.

The West Texas Intermediate for September delivery rose 1.32 U.S. dollars to settle at 40.83 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery added 1.30 dollars to close at 43.10 dollars a barrel on the London ICE Futures Exchange. Enditem