Futures Movers: Oil climbs to fresh three-year highs, Brent taps $71 a barrel

Oil prices shot to fresh three-year highs on Thursday, with Brent climbing atop $71 a barrel after the market saw another drop in U.S. crude inventory and the dollar continued to sell off.

March West Texas Intermediate crude CLH8, +0.76% rose 67 cents, or 1%, to $66.29 a barrel, knocking out the three-year high the contract saw at Wednesday’s close, when it gained 1.8% to settle at $65.61 a barrel.

Brent for March LCOH8, +0.47% rose 50 cents, or 0.7%, to $71.03 a barrel, the highest since early December 2014. The contract finished at $70.53 a barrel, a gain of 0.8%, on Wednesday, also a Dec.

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