SYDNEY (Bloomberg) --Oil extended its rally into a fifth day on signs that a glut might be easing as leading producers slash their activity.
Futures in New York climbed almost 5%, after rising 3.1% on Monday, in the longest streak of gains since July. Genscape reported a 1.8 million-barrel build in inventories in Cushing, Oklahoma, the delivery point for West Texas Intermediate crude. If the U.S. government reports a similar number Wednesday, it would mark the smallest increase at the hub since mid-March.
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