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Oil prices settle at their highest in a week as traders weigh prospects for energy demand

Oil futures gained on Thursday, with U.S. and global crude benchmarks settling at their highest prices in a week, rebounding from losses a day earlier brought on by data showing a large weekly jump in U.S. crude inventories.

Data from China showing refinery runs increased in May, along with signs of stronger U.S. gasoline consumption helped boost traders’ outlook for energy demand.

Price action

Market drivers

The…

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