3/30, 4:49 PM (Source: TeleTrader)
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Oil keeps rising after drop in US inventories

Prices of oil futures extended gains recorded earlier in the day on Wednesday after the United States Energy Information Administration revealed that crude oil inventories in the country declined by 3.4 million barrels in the week that ended March 25.

Yesterday, the American Petroleum Institute (API) reportedly estimated a similar drop in US stockpiles.

West Texas Intermediate (WTI) for settlements in May gained 3.42% to sell for $107.52 per barrel at 10:38 am ET. Brent for deliveries in the same month increased 3.07%, going for $113.61 per barrel at 10:37 am ET.

Baha Breaking News (BBN) / MS