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Oil futures soared on Wednesday, with US prices rising for an eighth consecutive session, after the Energy Information Administration said domestic crude inventories fell 6.6 million barrels for the week completed on February 5. Oil bulls have their eyes on January 2020 price highs, “with many now citing underinvestment in the sector, potentially causing a supply shortfall in the next few years,” Lukman Otunuga told MarketWatch, Senior Research Analyst at FXTM. Mars West Texas Intermediate crude CLH21,
rose 32 cents, or nearly 0.6%, to $ 58.68 a barrel on the New York Mercantile Exchange.
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