The U.S. oil benchmark traded at its highest level since early August on Wednesday, after industry data shows a large fall in U.S. crude inventories ahead of official data.

West Texas Intermediate crude for October delivery CL00 CLV21 rose 91 cents, or 1.3%, to $71.37 a barrel on the New York Mercantile Exchange. November Brent crude BRN00 BRNX21, the global benchmark, was up 87 cents, or 1.2%, at $74.47 a barrel on ICE Futures Europe, after logging the highest close for a front-month contract since July 30 on Tuesday.

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