9/27, 4:47 PM (Source: TeleTrader)
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WTI jumps 3% as US crude inventories drop

The prices of crude oil continued to climb on Wednesday after data by the Energy Information Administration showed a larger-than-expected inventory drawdown in the United States, seemingly fueling up concerns about the commodity supply.

The stockpiles fell by 2.2 million barrels to 416.3 million barrels in the week ending September 22, excluding supplies held in the Strategic Petroleum Reserve (SPR).

For Novemeber deliveries, West Texas Intermediate surged 3.27% to sell at $93.25 per barrel at 10:51 am ET, while Brent soared 2.38% to go for $96.10 a barrel.

Baha Breaking News (BBN) / AB