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WTI Climbs From 2-Year Low on Cut in Saudi Oil Supply

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West Texas Intermediate surged from its lowest closing price in more than two years as Saudi Arabia trimmed crude oil supply in September.

Futures gained as much as 1.7 percent in New York, recording the biggest increase since Oct. 17 and erasing an earlier fall of 0.6 percent. The biggest producer in the Organization of Petroleum Exporting Countries cut supply to markets by 328,000 barrels a day last month, to 9.36 million barrels a day, from 9.69 million in August, according to a person with knowledge of Saudi Arabia’s oil policy.