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Rise in oil prices continued today as US crude oil inventories at Cushing dropped to a three-year low. Brent crude rose by 0.5%, to $77.48 a barrel while WTI crude futures added 0.4%, to $74.09 a barrel. Cushing, which acts as a delivery point for WTI crude futures, is clearly calling for more crude, with the prompt few months over $2 backwardated, analysts said.
