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Oil futures ends above $51 first time since July

By The Rainbow
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Oil futures ended solidly higher Wednesday, with the U.S. benchmark closing above $51 a barrel for the first time since July 2015. West Texas Intermediate crude for July delivery CLN, +0.00% rose 87 cents, or 1.7%, to finish at $51.23 a barrel. Oil was buoyed by a drop in weekly crude inventories, continued supply disruptions in Nigeria, and strong data on oil imports by China.