Oil at highest since March on lower US inventories, recovering demand

Oil at highest since March on lower US inventories, recovering demand

Oil rose on Thursday to its highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease restrictions imposed due to the coronavirus crisis. Benchmark U.S. crude oil for July delivery rose $1.53, or 4.8%, to settle at $33.49 a barrel Wednesday. Brent crude oil for July delivery rose $1.10, or 3.2% to $35.75 a barrel.

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