Oil prices rise to highest since March after U.S. stock drawdown

CNBC | Oil prices rose on Thursday to their highest since March, as a drawdown of U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut, offsetting fears over the economic fallout from the Covid-19 epidemic.


Brent crude futures for July delivery were trading up 62 cents, or 1.7%, at $36.37 per barrel at 0550 GMT, rising for a second day.


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