9/15, 11:47 AM (Source: TeleTrader)
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Oil advances 1% as US stockpiles drop

Prices of oil futures rose more than 1% on Wednesday after American Petroleum Institute (API) reportedly revealed that the United States crude oil inventories dropped by 5.4 million barrels during the previous week.

Meanwhile, euro area's industrial production grew by a better-than-expected 1.5% in July in comparison to the month before.

West Texas Intermediate (WTI) for settlements in October jumped 1.31% at 5:35 am ET to sell for $71.38 per barrel. Brent for deliveries in November gained 1.2% a minute later, going for $74.5 per barrel.

Breaking the News / BU