Crude Oil Steaming Toward $40
Crude oil prices continued to rise Thursday morning despite record U.S. inventories.
Commercial crude oil inventories increased by 1.3 million barrels from the previous week, the EIA said.
WTI crude oil for April was up 73 cents at $39.19 a barrel, approaching its highest since November.
Crude oil rallied Wednesday as the Federal Reserve predicted two rate hikes in 2016 instead of four.
A planned meeting of certain OPEC nations and Russia to discuss production caps also fueled the advance.
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