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Oil prices jump on big U.S. crude stock drawdown

Xinhua, October 20, 2016 Adjust font size:

Oil prices posted solid gains Wednesday, with U.S. oil hitting 15-month highs, as official data showed a surprisingly large weekly drop in U.S. crude inventories.

The West Texas Intermediate for November delivery added 1.31 U.S. dollars to settle at 51.60 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery increased 99 cents to close at 52.67 dollars a barrel on the London ICE Futures Exchange. Endit