WTI Crude Rises After EIA Reports U.S. Stockpiles Tumbled
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West Texas Intermediate oil advanced to a one-week high after a government report showed that U.S. crude inventories tumbled as refineries increased production.
Futures rose 0.5 percent. The Energy Information Administration said supplies fell 6.27 million barrels to 391.3 million last week. An 800,000-barrel drop was projected in a Bloomberg survey of analysts. Refineries operated at 88.4 percent of capacity, up 2 percentage points from the prior week. Crude imports slipped 7 percent to 7.27 million barrels a day.