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Oil prices climb to 2-week highs as U.S. crude output falls

Mprofits

Oil prices rose to a two-week high in European trade on Thursday, extending gains into a sixth session after U.S. government data revealed the biggest weekly decline in domestic crude production in almost a year.
The U.S. West Texas Intermediate crude August contract was at $45.12 a barrel by 3:35AM ET (0735GMT), up 38 cents, or around 0.9%. It touched its highest since June 14 at $45.23 earlier.

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