Oil settled up about 3 percent on Wednesday as a weak dollar, fighting in Yemen and speculative buying boosted crude prices in spite of U.S. inventories building to record highs for an 11th week. Fighting in Yemen raised concerns about the security of oil shipments from the Middle East. Oil prices retreated earlier in the day after the U.S. Energy Information Administration (EIA) reported that inventories rose 8.2 million barrels last week, hitting 80-year highs for an 11th straight week.
via Business News http://ift.tt/1EQw8dl
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