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Oil prices surge after big U.S. crude inventory draw

Xinhua, September 9, 2016 Adjust font size:

Oil prices posted solid gains Thursday after official data showed a surprisingly large drawdown in U.S. oil stockpiles.

The West Texas Intermediate for October delivery jumped 2.12 U.S. dollars to settle at 47.62 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery soared 2.01 dollars to close at 49.99 dollars a barrel on the London ICE Futures Exchange. Endit