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Oil prices on the increase

Oil prices climbed today after industry data showed a larger than expected drawdown in crude oil stocks in the United States.

Expectations that demand will recover as vaccine roll-outs widen also influenced the early rise in the session.

Brent crude for November delivery gained 39 cents shortly after trading began, selling for US$73.99 a barrel.

U.S. West Texas Intermediate crude for October delivery rose 44 cents trading at $70.90  per barrel.

 



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