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7/1, 11:03 AM (Source: TeleTrader)
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Oil prices up by 1% ahead of OPEC+ talks

Oil prices advanced by more than 1% on Thursday as the investors anticipated the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known together as OPEC+, scheduled to take place later in the day.

Data provided by the United States Energy Information Administration revealed the day before that the crude stockpiles in the US decreased by 6.7 million barrels during the last week.

Brent for September settlements jumped 1.3% to $75.59 per barrel at 4:51 am ET. A minute later, West Texas Intermediate futures for delivery in August was up 1.36% to $74.46 per barrel.

Breaking the News / BU