Oil prices rise 2% as US crude stocks fall
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Oil prices rose 2% on Wednesday (June 26th) to their highest level in nearly a month as industry data showed US crude inventories fell more than expected, but geopolitical tensions boosted the market.
Brent crude futures were up 1.8%, or $ 1.17, to $ 66.22 a barrel. US WTI futures were up $ 59.09 a barrel, up $ 1.26, or 2.2% from the last settlement.
US crude inventories fell 7.5 million barrels in the week ending June 21 to 474.5 million, compared with analysts' expectations of a 2.5 million barrel decline.