Oil Futures Gain On Crude Inventory Drop

By Sue Chang Markets MarketWatch Pulse

Oil futures finished higher Wednesday after the Energy Information Administration reported U.S. crude inventories fell 6.5 million barrels last week, the ninth decline in a row. However, mounting geopolitical tensions between the U.S. and North Korea as the two countries exchanged a war of words limited crude prices from gaining further. On the New York Mercantile Exchange, West Texas Intermediate for delivery in September gained 39 cents, or 0.8%, to settle at $49.56.

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