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Commodity: Oil prices increase on Thursday

16/05/2024
Source : ORISHAS-FINANCE
Categories: Raw materials

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Oil prices extended the gains of the previous session on Thursday on signs of stronger demand in the United States.

American West Texas Intermediate (WTI) crude gained 43 cents, or 0.6%, to $79.06 at 0032 GMT, while Brent rose 42 cents, or 0.5%, to $83.17 per barrel. U.S. consumer prices rose less than expected in April.

Crude inventories fell by 2.5 million barrels to 457 million barrels during the week ending May 10, according to data from the Energy Information Administration (EIA).

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