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Oil rises above $60 at Wednesday’s finish

Oil rises above $60 at Wednesday’s finish

Mubasher: Oil futures settled higher on Wednesday, marking highest finish in seven weeks.

August Nymex WTI rose $2.6, or 4.5%, to close at $60.43 per barrel.

The Energy Information Administration (EIA) revealed that US crude oil stockpiles fell by 9.5 million barrels to 459 million barrels in the week ended 5 July.