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7/29, 9:26 AM (Source: TeleTrader)
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Oil gains near 1% as US crude inventories decline

Prices of oil increased by almost 1% on Thursday after the United States Energy Information Administration stated that the crude stockpiles declined by 4.1 million barrels in the week ending July 23.

French oil giant Total reported earlier during the day better-than-expected earnings for the year's second quarter, with its earnings per share surging more than 6000% on a yearly basis.

Brent for September settlement moved up 0.85% to $75.36 per barrel at 3:15 am ET. West Texas Intermediate for September delivery advanced 0.94% to $73.07 per barrel at the same time.

Breaking the News / BU