NEW YORK: Oil settled near US$75 a barrel on Wednesday after data showed U.S. crude inventories fell to pre-pandemic levels, bringing the market's focus back to tight supplies rather than rising COVID-19 infections.
Brent crude ended the session up 26 cents, or 0.4%, to $74.74 a barrel, after posting on Tuesday its first decline in six days. U.S. West Texas Intermediate (WTI) crude settled up 74 cents, or 1%, at $72.39.
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