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Oil prices extended gains by more than 1.5 percent on Thursday after
industry data showed what might be the largest weekly crude stock draw
in over three decades.
U.S. crude stocks surprisingly plunged 12.1 million barrels last week,
data from the American Petroleum Institute showed after the market
settlement on Wednesday, compared with expectations for an increase of
around 200,000 barrels. [API/S]
If official data released from the U.S. government later on Thursday
confirms the draw, it would be the largest one-week decline since April
1985.
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