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Oil Prices Rise; EIA Reports Larger-than-Expected Drop in U.S. Rough Inventories

Oil costs ascended on Thursday in Asia after information demonstrating U.S. rough inventories fell more than anticipated a week ago.

U.S. {{8849|Crude Oil WTI Futures} }inched up 0.1% to $56.84 by 11:56 PM ET (03:56 GMT). Global benchmark Brent unrefined rose 0.3% to $63.87.

The Energy Information Administration said in its week by week report that unrefined reserves fell by 3.12 million barrels in the week to July 12, contrasted with gauges for a store draw of 2.69 million.