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Oil jumps 2% on U.S. crude stocks draw, Norway strike

Published 21/09/2016, 09:35 pm
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Oil jumped Wednesday after an unexpected draw in U.S. crude stocks and an oil service worker strike in Norway .
U.S. crude was up 96 cents, or 2.18%, at $45.01 at 07:00 ET. Brent crude gained 2.03% to $46.81.
American Petroleum Institute data showed a draw of 7.5 million barrels in U.S. crude to 507.2 million.
That was the third week in a row that U.S. crude inventories have fallen.
Expectations were for an increase of 3.4 million barrels.
Official Energy Information Administration figures are due out later Wednesday.
The dollar index was slightly lower. A weaker dollar underpins demand for oil.

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