Oil rises as US stocks fall



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Oil prices rose on Thursday as US crude inventories tumbled to their highest level since September 2016.

US Energy Information Administration data shows Wednesday that US inventories fell by 12.6 million barrels to 405.2 last week (19659002) and also accelerated the pace of the rise, OPEC expectations of a decline in global demand for its oil l & rdquo; Next year as consumption slackened and pumped its competitors over supplies.

Brent crude for September delivery of 1.77 percent or equivalent

US crude oil futures delivered in August rose 0.61%, or 43 cents, to $ 70.81 the barrel.

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