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Oil prices turn positive as U.S. crude inventories fall

Reuters  |  NEW YORK 

By Jessica Resnick-AultNEW YORK (Reuters) - Oil prices edged higher on Wednesday, turning positive after U.S. government data showed a bigger weekly draw than expected in domestic crude inventories along with unexpected declines in gasoline and distillate stocks. Earlier in the session, Brent and U.S. crude had retreated on concerns about rising production in the United States and expectations that OPEC and other producers could relax voluntary output cuts.Brent crude was up 53 cents at $76.41 a barrel by 10:52 a.m. EDT (1552 GMT). U.S. light crude was up 10 cents at $66.46 a barrel.U.S. ...

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First Published: Wed, June 13 2018. 22:52 IST
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