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Oil prices rise on falling US crude stocks, Saudi supply cut to Asia

Mimi Sabreena 1:39:00 PM Informasi

SINGAPORE (May 11): Oil prices rose on Thursday, and Brent was firmly back over US$50 per barrel, as a fall in US fuel inventories and a bigger than expected cut in Saudi supplies to Asia tightened the market.

International Brent crude futures were at US$50.46 per barrel at 0438 GMT on Thursday, up 24 US cents, or 0.5%, from their last close.

US West Texas Intermediate (WTI) crude futures were at US$47.57 per barrel, up 24 US cents, or 0.5% from the last settlement.

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