U.S. oil futures climb for the session, fall for the month

U.S. benchmark oil futures rose about 25% on Thursday, paring the monthly loss, based on the front-month contracts, to 8%, according to Dow Jones Market Data. Analysts attributed the gain for the session to production cuts among some major oil companies, which eased easing worries about shrinking crude-storage capacity. June West Texas Intermediate oil CLM20, +28.55% rose 3.78, or 25.1%, to settle at $18.84 a barrel on the New York Mercantile Exchange.

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