OIL PRICE: ABOVE $60
REUTERS - Brent crude oil futures rose above $60 a barrel on Wednesday after industry data showed a larger-than-expected drop in U.S. crude inventories, but lingering worries about a possible global recession capped gains.
Brent crude LCOc1 had gained 26 cents, or 0.43%, to $60.29 a barrel by 0900 GMT, after settling 0.5% higher on Tuesday, while U.S. crude CLc1 was up 3 cents, or 0.05%, at $56.16 a barrel.
U.S. crude oil stocks fell by 3.5 million barrels in the week to Aug. 16, data from industry group the American Petroleum Institute (API) showed…
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