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Oil futures extend gain after larger-than-expected drop in U.S. crude inventories

Oil futures extend gain after larger-than-expected drop in U.S. crude inventories

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Oil futures extended gains Wednesday, after the Energy Information Administration said U.S. crude inventories fell by 4.7 million barrels in the week ended Dec. 17. Analysts surveyed by S&P Global Platts had, on average, looked for crude stocks to fall by 3.9 million barrels, while sources said the American Petroleum Institute late Tuesday showed a 3.67 million barrel decline.

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