US crude settled up US$2.99 at US$106.5 a barrel, posting its biggest daily rise since May and its largest three-week increase since March 2011. Data from USA showed the biggest two-week decline in crrude stockpiles, propping up crude oil prices by nearly US$3 a barrel to their highest in 16 months.
For more details on Crude oil in New York surges by almost US$3 to spike to highest level in 16 month click here
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