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Oil on the rise as US inventories fall, BP sells Alaska operations to Hillcorp

Crude is up after API reports an 11 million-barrel drop ahead of the Department of Energy's report. Within the oil space, BP is selling its operations in Alaska to HIllcorp for $5.6 billion, and as Saudi Aramco is prepping for its IPO, Aramco Trading has sold the first U.S. West Texas Light crude to South Korea's Hyundai.