Oil prices rise modestly after prior session's jump
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E-mail Xinhua, September 17, 2021
NEW YORK, Sept. 16 (Xinhua) -- Oil prices climbed slightly on Thursday, following pronounced gains in the prior session.
The West Texas Intermediate (WTI) for October delivery settled flat at 72.61 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for November delivery increased 21 cents to close at 75.67 dollars a barrel on the London ICE Futures Exchange.
On Wednesday, the U.S. crude benchmark and Brent jumped 3.05 percent and 2.53 percent, respectively, after data showed a big draw in U.S. stockpiles.
U.S. crude oil inventories decreased by 6.4 million barrels during the week ending Sept. 10, the U.S. Energy Information Administration (EIA) said in a report on Wednesday. Analysts surveyed by S&P Global Platts had forecast the U.S. crude inventories to show a fall of 3.5 million barrels.
According to the EIA, total motor gasoline inventories decreased by 1.9 million barrels last week, while distillate fuel inventories decreased by 1.7 million barrels. Enditem
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