Oil ends choppy session with gains after large crop in crude inventories

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Oil futures ended higher Wednesday, after fluctuating between gains and losses as data showed a larger-than-expected drop in crude inventories last week. West Texas Intermediate crude for February delivery rose 40 cents, or 0.8%, to close at $48.40 a barrel on the New York Mercantile Exchange. The Energy Information Administration said crude inventories fell by 6.1 million barrels last week. Analysts surveyed by S&P Global Platts had looked for a 3.8 million barrel drop.

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