Oil prices rally ahead of US stockpile data

October 4, 2006 15:58

Oil prices rallied Wednesday ahead of the release of US stockpile data. The rally came a day after oil settled at a seven-month low amid signs of rising global supplies. By midafternoon in Europe, light sweet crude for November delivery rose 36 cents to US $59.04 in electronic trading on the New York Mercantile Exchange.

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