Crude price rises towards 60-dollar mark

Oil prices rose even after report that US supplies of the fuel declined by one million barrels last week, increasing optimism that energy demand will recover soon. The government reported that the nation is consuming less than it has in years and that inventories are the highest in nearly two decades. Benchmark crude for June delivery gained $1.05 to settle at $50.97 a barrel on the New York Mercantile Exchange.

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