Commodity Tips:- Crude Oil News

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Crude oil futures edged higher to above $60 a barrel on Wednesday, as the U.S. dollar weakened on downbeat economic data. A relatively small build in U.S. oil stockpiles also helped crude oil rebound from its recent losses. The Energy Information Administration (EIA) reported a third consecutive weekly build in oil inventories. This time, the build was 1.8 million barrels for the week to February 9, roughly in line with estimates. 

 

Benchmark crude oil futures for March delivery surged 2.4 percent, at $60.60 a barrel on the New York Mercantile Exchange. April Brent crude gained 2.6 percent to $64.36 a barrel on London’s Intercontinental Exchange. 

 

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