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ICBC Global Market: Oil and Other Commodities Market Update - May 17, 2018

Oil prices gained on Wednesday, after an inventory report showed U.S. crude stocks fell more than expected and crude weekly export soared to a record high. Front-month U.S. West Texas Intermediate crude futures rose 0.76 percent at $71.54 a barrel. Front-month Brent crude futures rallied 1.54 percent to $79.33 a barrel. The spread between the two benchmarks stood at $7.79 a barrel.


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