WTI Oil Climbs to One-Month High on Cushing Supply
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West Texas Intermediate crude rose to a one-month high on speculation that inventories at Cushing, Oklahoma, the delivery point for the contract, dropped for a 10th week. Brent gained.
Futures climbed 2.1 percent in New York. Cushing stockpiles slid 35 percent to 27.3 million barrels in the nine weeks to March 28, Energy Information Administration data show. The EIA may say tomorrow that supplies at the hub fell last week, according to a Bloomberg survey. The rally accelerated as the dollar slumped against its peers, bolstering the appeal of commodities to investors.