Oil Futures Rally To Settle Above $58 a Barrel

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Oil futures settled above $58 a barrel on Wednesday, at their highest level of the year. Prices got a boost from U.S. government data showing a decline in crude supplies at the Cushing, Okla. storage hub. June crude settled at $58.58 a barrel on the New York Mercantile Exchange, up $1.52, or 2.7%.

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