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Oil levels up at Wednesday’s settlement   

Oil levels up at Wednesday’s settlement   

Mubasher: Oil futures ended higher on Wednesday, the highest level since 22 May.

August Nymex WTI grew $1.55, or 2.7%, to close at $59.38 per barrel.

The Energy Information Administration (EIA) stated that US crude oil stockpiles dropped by 12.8 million barrels to 469.6 million barrels in the week ended 21 June.