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Oil prices recover from three-month lows

Oil prices climbed from three-month lows on Wednesday, lifted by a surprise drawdown in U.S. inventories.
       
It was also helped by figures from the International Energy Agency (IEA) suggesting OPEC cuts should push the crude market into deficit in time.
     
U.S. West Texas Intermediate crude was up 79 cents, or 1.7 per cent, at $48.51.



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