West TX Oil Rallies to $88 on Inventory Draw

U.S. crude futures climbed towards $88 a barrel on Thursday, rebounding after falling to their lowest level in 18 months on a weaker dollar and a draw on inventories at the Cushing delivery hub.

U.S. crude for November delivery was up 47 cents at$87.77 by 0102 GMT, after settling down $1.54. It earlier hit $86.83, its lowest level since April 2013.

Brent crude for November delivery rose 35 cents to $91.73 after ending the previous session down 73 cents. It fell to as low as $90.57 on Wednesday, the lowest since June 2012.

CNBC

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