Crude oil surged nearly 5 percent after the Department of Energy's latest inventory report showed U.S. stockpiles declining the most in more than a year, as imports tumbled and refineries increased operating rates.
Stockpiles dropped 8.4 million barrels last week, the most since the week ending May 23, 2008.
Imports slipped 15 percent to 8.53 million barrels a day, the biggest drop and lowest...
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