Oil fell on Wednesday after data showed a surprise rise in US crude stockpiles and as Chinese industrial output grew less than expected in April, but prices were supported by mounting tensions in the Middle East. Brent crude futures were at $71.06 a barrel at 0646 GMT, down 18 cents, or 0.3%, from their last […]
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Brent nears $70 as oil prices rise for fourth day
Oil prices rose for a fourth day on Wednesday, pushing Brent toward $70 a barrel as support from OPEC-led supply cuts and US sanctions overshadowed a report showing an unexpected rise in US inventories. Brent futures rose 36 cents, or 0.5 percent, to $69.73 a barrel by 0554 GMT, after earlier reaching $69.87, the highest […]