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Oil jumps almost 2 percent after European storage data

Reuters  |  NEW YORK 

By Scott DiSavinoNEW YORK (Reuters) - Oil prices surged almost 2 percent on Tuesday along with rising gasoline and heating oil futures after a report showed European product stockpiles fell despite an increase in refinery crude runs.European refineries increased their crude oil intake in June, but stocks of oil products, particularly diesel, slid, Euroilstock data showed on Tuesday."That tells you demand globally is a lot stronger than people thought it was going to be and that is having a net positive effect on heating and gasoline prices," said Scott Shelton, energy specialist at energy ...

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First Published: Tue, July 11 2017. 21:57 IST
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