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COLUMBUS, Ohio — Oil prices rose in volatile trading Wednesday after rumors spread that Saudi Arabia told major customers of significant production cuts.
Prices quickly had given up strong early gains after the government reported U.S. gasoline inventories were well above expectations, suggesting that American motorists continue to drive less.
Light, sweet crude for January delivery rose 3.4 percent, or $1.45, to settle at $43.52 on the New York Mercantile Exchange.
