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Oil prices at 4-month highs as supplies post a weekly drop of nearly 10 million barrels

Myra P. Saefong
Oil prices at 4-month highs as supplies post a weekly drop of nearly 10 million barrels

Oil prices rise on Wednesday to settle at their highest in four months, after U.S. government data reveal a nearly 10 million-barrel weekly drop in domestic crude inventories, along with hefty declines in both gasoline and distillate stockpiles.