(Reuters) - London Brent crude rose 80 cents to $71.32 a barrel by 1110 GMT. U.S. crude oil was up 69 cents at $70.26 after reaching its highest settlement since August 2006.
While nationwide U.S. crude stocks rose by 1.6 million barrels to a nine-year high, the drop at Cushing has supported gains for U.S. crude and helped narrow its discount to Brent to around $1 a barrel.
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While nationwide U.S. crude stocks rose by 1.6 million barrels to a nine-year high, the drop at Cushing has supported gains for U.S. crude and helped narrow its discount to Brent to around $1 a barrel.
Read more at Reuters.com Hot Stocks News
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