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The major crude benchmarks consolidated.........>

OIL
OIL: The major crude benchmarks consolidated Wednesday's gains overnight.
Wednesday saw a surprise drawdown in headline crude stocks in the latest weekly
DOE inventory release, alongside a drawdown in gasoline stocks, which supported
prices.
- Wednesday also saw focus fall on comments from Iraq as the crude producer
noted that oil exports are set to tick up in August, while a senior Iraqi oil
official noted that OPEC should discuss how to make up for a drop in Iranian oil
supply (an OPEC discussion on the matter is currently tabled for December).
- Elsewhere Tuesday's source report re: Iranian crude exports continued to
support crude.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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