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Oil & Gas Technical Compendium

Brent crude tops $46, WTI passes trading milestone on falling stockpiles

Oil climbed to a five-month high in London, topping $46 a barrel after U.S. industry data showed a decline in the nation’s stockpiles.Brent futures gained for a fourth day, rising as much as 2.6% to the highest price since March 6. The American Petroleum Institute reported a 8.59 million-barrel in crude inventories last week, according to people familiar with the figures.The international benchmark moved above its low from March 6 in European trading hours, closing a so-called price gap that was formed on that day, a move that traditionally leads to additional buying. Over the same period, West Texas Intermediate rose above its 200-day moving average for the first time since January.Oil has resumed gains in recent days after rallying from .....

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