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Oil prices increased on Thursday extending the gains from the previous session. The market was also largely affected by the industry report showing a drop in U.S. crude stockpiles last week. WTI went up by 0.4% to $57.32 a barrel. Brent rose by 0.3% and was traded at $62.54 a barrel. US crude inventories have gone down by 541,000 barrels in the week to Nov. 8 to 440 million.