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6/26, 4:50 PM (Source: TeleTrader)
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Oil rises over 2% following EIA report

Crude prices jumped over 2% on Wednesday after the United States Energy Information Administration (EIA) said that oil inventories decreased by 12.8 million barrels to 469.6 million in the week ending June 21.

Brent futures for September deliveries climbed 2.43% at 10:40 am ET to go for $65.85 per barrel, while West Texas Intermediate (WTI) futures for the same month rose 3.25% to $59.72 a barrel at the same time.

Breaking the News / DZ