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Oil prices rally on falling Cushing supplies

Oil prices rally on falling Cushing supplies

Oil prices jumped Wednesday as government data showed that inventories at Cushing, Oklahoma, the delivery point for the U.S. contract, dropped for the first time in months. Inventories at Cushing, the storage hub, fell 510,000 barrels to 61.68 million barrels in the week ended April 24, said Energy Information Administration (EIA) on Wednesday in its weekly report. The lower crude inventory build boosted market expectations of an ea... >>

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