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Crude oil futures end higher as US crude supplies rise less than expected
Nov-21-2019

Crude oil futures ended sharply higher on Wednesday, regaining the entire ground lost in the previous session, after the government data showed crude stockpiles in the US rose less than expected in the week ended November 15. The Energy Information Administration (EIA) reported that US crude supplies rose by 1.4 million barrels for the week ended November 15. That followed increases in each of the past three weeks. The latest climb, however, was a bit smaller than the 1.6 million-barrel rise expected by S&P Global Platts. The American Petroleum Institute on Tuesday reported a climb of roughly 6 million barrels.

Benchmark crude oil futures for December surged $1.90 or 3.4 percent to settle at $57.11 a barrel on the New York Mercantile Exchange. January Brent rose $1.49 or 2.5 percent to settle at $62.40 a barrel on London's Intercontinental Exchange.

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