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Crude Oil Making Another Charge At $50 Post-Harvey

Crude oil prices rose further Wednesday morning after the world's energy watchdog said that global oil supplies fell in August for the first time in four months.

Interruptions from Hurricane Harvey, dwindling OPEC production and seasonal maintenance caused output to come down by 720,000 barrels a day last month from July, to 97.7 million barrels a day, the International Energy Agency said Wednesday.

Meanwhile, The American Petroleum Institute (API) reported a build of 6.181 million barrels last week.

WTI light sweet crude oil rose 48 cents to $48.71 a barrel.

by RTT Staff Writer

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