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Oil Extends Gains After US Crude Stockpiles Drop, Exports Soar

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West Texas Intermediate futures climbed near $98 a barrel after closing 2.4% higher in the previous session. US crude stockpiles dropped by the most since the end of May, while exports rose to a record, according to government data. The spread between WTI and global benchmark Brent is continuing to widen as a reduction in Russian flows exacerbates market tightness in Europe.



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