Oil Prices End At Highest Level In About Three Weeks

By Myra P. Saefong Markets MarketWatch Pulse

Oil prices rose Wednesday to finish at their highest level in roughly three weeks. Data from the Energy Information Administration revealed a weekly rise in U.S. crude supplies that was below some market expectations, along with bigger-than-expected drops in gasoline and distillate stockpiles. Disruptions to crude production in Libya added further support to oil prices. May West Texas Intermediate crude rose $1.14, or 2.4%, to settle at $49.51 a barrel.

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