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Oil prices rally more than a per cent

Oil prices rallied more than one per cent on Wednesday after U.S. data showing a deep drawdown in gasoline stocks overshadowed crude inventories rising to 17-month highs, and as sanctions and blackouts in Venezuela helped tighten global supply.
 
International benchmark Brent futures rose $1.09 to $71.70 a barrel.
 
U.S. West Texas Intermediate (WTI) crude oil futures climbed 68 cents to $64.66 a barrel.


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