WTI Crude Climbs to Four Week-High on Cushing Supply
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West Texas Intermediate oil climbed to a four-week high on speculation that crude inventories at Cushing, Oklahoma, the delivery point for the contract, slipped for the 15th time in 16 weeks. Brent traded near $110 a barrel.
Futures rose 0.6 percent in New York. Cushing supplies fell 592,000 barrels in the week ended May 9 to 23.4 million, the least since December 2008, according to the Energy Information Administration. The June WTI contract, which expires tomorrow, advanced more than those for delivery further out.