Oil set for 5 percent weekly gain on U.S. demand

Ibtimes.com reported that Oil set for 5 percent weekly gain on U.S. demand:

Oil inventories at the U.S. Cushing, Oklahoma, crude oil hub, the delivery point for NYMEX futures, fell more than 350,000 barrels in the week to July 6 to 38.9 million barrels, figures from energy industry data provider Genscape showed on Thursday.

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