Photographer: Andrey Rudakov/Bloomberg

Oil Breaks Key Technical Level for First Time Since 2014: Chart

U.S. benchmark oil settled above the 200-day moving average for the first time since July 2014 as U.S. production continues to decline. West Texas Intermediate crude ended at $42.17, the highest level since November. Production dropped to 9.01 million barrels a day in the week ended April 1, the lowest since Nov. 2014, according to the EIA.

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