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Aug. 12, 2020, 2:41 p.m. EDT

Oil futures end at highest since early March, with domestic crude supplies down a third week

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By Myra P. Saefong

Oil futures on Wednesday marked their highest settlement since early March, buoyed by a third consecutive weekly decline in domestic crude inventories. The Energy Information Administration reported Wednesday that U.S. crude supplies fell 4.5 million barrels for the week ended Aug. 7. September West Texas Intermediate oil climbed by $1.06, or nearly 2.6%, to settle at $42.67 a barrel on the New York Mercantile Exchange. The settlement was the highest, based on the front-month contracts, since March 5, according to FactSet data.

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Oil prices end at highest since March with U.S. crude supplies down 3 weeks in a row

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