DALLAS (MarketWatch) -- The June crude-oil contract shook off bearish U.S. inventory data to trade higher Wednesday morning on the New York Mercantile Exchange despite two reports of larger-than-expected increases in crude supplies. Phil Flynn, senior market analyst at Alaron.com, said he believes the data may have already been priced into the energy futures. The June contract for crude fell 10% last week. Crude for June delivery traded as low as $48.80 a barrel immediately after the reports and was last at $49.70, up 20 cents.
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