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Oil prices surge after U.S. inventory data

Xinhua, May 10, 2017 Adjust font size:

Oil prices rebounded strongly Wednesday as official data showed that U.S. crude stockpiles dropped much more than expected last week.

The West Texas Intermediate for June delivery jumped 1.45 U.S. dollars to settle at 47.33 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery climbed 1.49 dollars to close at 48.73 dollars a barrel on the London ICE Futures Exchange. Enditem