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April 14, 2021, 2:40 p.m. EDT

Oil futures rally to finish at 4-week high

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By Myra P. Saefong

Oil futures rallied Wednesday to mark their highest finish in four weeks. The International Energy Agency raised its forecast for global oil demand this year and the Energy Information Administration reported a 5.9 million barrel fall in U.S. crude inventories for the week ended April 9. May West Texas Intermediate crude rose $2.97, or 4.9%, to settle at $63.15 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since March 17, FactSet data show.

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