Oil Holds Near 3-Year Highs as Falling U.S. Crude Supplies Provide Support

Crude prices were largely unchanged near recent highs in early dealings on Thursday, drawing support from a report showing U.S. crude stockpiles declined for an eighth straight week.

U.S. West Texas Intermediate (WTI) crude futures tacked on 2 cents to $63.59 a barrel by 3:40AM ET (0840GMT), after gaining 1% a day earlier. It rose to its highest since Dec. 2014 at $63.67 on Wednesday.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., were at $69.13 a barrel, down 7 cents from their last close. The contract edged up 0.6% in the prior session after rallying to its best level since May 2015 at $69.37…

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