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Crude oil extended its gains after the U.S. Energy Department reported an unexpected decline in inventories. Supplies fell 4.68 million barrels to 336.3 million in the week ended Sept. 30, the Energy Department said today. Futures also rose as U.S. companies added more jobs than forecast last month. ADP Employer Services showed companies in the U.S. added 91,000 jobs in September.
Crude oil for November delivery rose $2.86, or 3.8 percent, to $78.53 a barrel at 10:37 a.m. on the New York Mercantile Exchange. Oil traded at $77.77 before the release of the inventory report at 10:30 a.m.
At the moment crude oil for November delivery traded at the level $78.39 a barrel.
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