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Oil prices rise on U.S. inventories data

Xinhua, March 29, 2017 Adjust font size:

Oil prices rose on Wednesday as lower-than-expected rise in U.S. crude inventories eased market concerns about global oil glut.

The West Texas Intermediate for May Delivery added 1.14 U.S. dollar to settle at 49.51 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery increased 1.09 dollars to close at 52.42 dollars a barrel on the London ICE Futures Exchange. Endit