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Oil prices climbed on Thursday, rising over hopes that a jump in U.S. inventories might indicate deeper output cuts amidst a decline in demand. Brent crude was traded 1.3% higher, at $28.05 a barrel. U.S. West Texas Intermediate (WTI) crude edged up 0.5%, to $19.97 a barrel. EIA data showed huge builds in U.S. refined fuels stock despite refineries operating at 69% national capacity, the lowest since September 2008.