Oil hits 2019 high above $72 on China growth, lower U.S. inventories

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Oil hits 2019 high above $72 on China growth, lower U.S. inventoriesBrent oil hit a 2019 high above $72 a barrel on Wednesday, propelled by steady economic growth in China and a fall in U.S. crude stocks which defied expectations and signaled firm demand, while global supply remained tight. International benchmark Brent crude futures were up 28 cents, or 0.39 percent, at $72 by 0910 GMT, having hit an intraday peak of $72.24. U.S. West Texas Intermediate (WTI) crude futures were at $64.39 per barrel, up 34 cents or 0.53 percent and just shy of a 2019 high of $64.79 hit last week.


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